HSI Opens 11 pts Up; SUNAC Spikes 10%
Hong Kong stocks opened higher in the morning. $Hang Seng Index(800000.HK$ opened 11 points or 0.06% higher at 17,942. $Hang Seng China Enterprises Index(800100.HK$ opened 4 points or 0.08% higher at 6,214. $Hang Seng TECH Index(800700.HK$ opened 6 points or 0.16% higher at 3,993.
Property stocks were boosted by a report that China intends to set up a special loan programme for the transformation of urban villages. $CHINA JINMAO(00817.HK$ and $SINO-OCEAN GP(03377.HK$ opened 2.7% and 3.6% higher. $COUNTRY GARDEN(02007.HK$ started 1.9% higher at $1.06 after the extension proposal for one of its domestic bond was reportedly approved.
$SUNAC(01918.HK$ shares opened hiking 10% at $3.08 after its overseas debt restructuring plan was approved by a majority of creditors. $EVERGRANDE(03333.HK$ shares opened elevating 6.6% at $0.65 after clarification that the criminal coercive measures taken against management personnel of Evergrande Wealth will not hinder operations.
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