Hong Kong Stocks Flat as China's Retail Sales Data Indicates Recovering Consumer Confidence

MT Newswires Live06-17

Hong Kong stocks closed flat on Monday as China's retail sales data for May showed a 3.7% increase over April 2.3%, indicating consumer confidence building up among less encouraging economic numbers.

China's industrial activity, however, fell short of expectations in May despite the strong performance of the manufacturing sector.

The Hang Seng Index slipped 0.03%, or 5.66 points, to close Mondayâs session at 17,936.12. The Hang Seng China Enterprises Index fell by 0.02%, or 1.18 points, to close at 6,373.48.

In corporate news. Beauty Farm Medical and Health Industry (HKG:2373) unit Shanghai Beauty Farm Development subscribed for 100 million yuan of certain wealth management products from China Merchants Bank (HKG:3968, SHA:600036) on June 14. The companyâs shares were up over 3% on Mondayâs close.

OKG Technology Holdings (HKG:1499) expects an attributable loss of at least HK$35 million for the year ended March 31, as compared to an attributable profit of around HK$43.5 million in the year-ago period. The companyâs shares were down nearly 11% on Mondayâs close.

CafÃ© de Coral Holdings (HKG:0341) attributable profit tripled to HK$330.5 million, or HK$0.57 per share, in the year ended March 31, from HK$110.4 million, or HK$0.19 per share, in the year-ago period. The companyâs shares were up over 3% on Mondayâs close.

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