Hong Kong stocks closed lower, mainland securities brokerages, Macau casino operators rallied, automakers rebounded 
STOCKS
Hong Kong stocks closed lower, mainland securities brokerages, Macau casino operators rallied, automakers rebounded 
STOCKS

Hong Kong stocks closed lower, mainland securities brokerages, Macau casino operators rallied, automakers rebounded 

 

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The Hang Seng Index closed down 0.49% at 19,420, the Hang Seng China Enterprises Index down 0.26% and the Hang Seng Tech Index up 0.4%. 

Technology heavyweights were mixed, with Kuaishou up 2%, Xiaomi and NetEase slightly higher, while Alibaba down more than 2%, JD.com and Baidu down more than 1%. 

Securities brokerages continued to rally after state media called for improved regulations and increased margin trading to boost capital market activity. Guolian Securities surged 16.8%, CICC up 3.6%, Guotai Junan up 3.1%.

Macau casino operators outperformed as the casino hub’s gross gaming revenue surged more than 40 times in July from a year earlier. New energy vehicle makers rebounded after a sell-off one day earlier, with Li Auto hitting a new record high .

Mainland property developers and property management companies were mixed, with Evergrande Service Group slumping more than 47% as trading resumed. Gold stocks, oil companies, catering companies and defence stocks retreated.