Advertisement

Hong Kong shares end flat

Hong Kong - Hong Kong shares finished flat on Tuesday, as gains in utilities offset losses in Macau casino stocks on concerns that revenues would suffer as gamblers focused on the final week of the World Cup.

The Hang Seng Index closed barely changed at 23,541.38 points.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.2 percent.

Among Macau gaming stocks, Galaxy Entertainment Group shed 2.7 percent and Wynn Macau 1.4 percent.

Barclays said in a note on Tuesday it expects total gross gaming revenue in July to decline 6 percent from a year earlier.

Li & Fung dropped 1.5 percent, snapping a 9-day winning streak, ahead of the listing of its new unit Global Brands Group on Wednesday after a spin-off.

Lenovo Group jumped another 2.9 percent to a 5-month high, following Monday's gain of 1 percent after Beijing approved its proposed $2.3 billion deal to buy IBM's low-end server business last Friday. - Reuters

SHOW ALL
Advertisement