Hong Kong Stocks End Flat in Negative Territory; LH Group Plunges 18%

MT Newswires Live08-15

Hong Kong stocks slipped marginally into negative territory at Thursday's close, improving slightly from yesterday's loss, as investor sentiment improved amid encouraging Chinese economic data.

The Hang Seng Index marginally fell to finish today's session at 17,109.14. The Hang Seng China Enterprises Index saw a minor increase at 6,035.27.

Investors regained hope in the economy as China's retail sales grew faster in July, rising 2.7% year on year, according to data released by the National Bureau of Statistics. The increase was higher than the 2% rise in June and also beat the 2.6% boost predicted by analysts surveyed by Reuters.

Industrial production jumped 5.1% from the prior year, slightly slower than June's 5.3% growth. It also missed the 5.2% growth forecasted by analysts polled by Reuters.

In corporate news, restaurant operator LH Group (HKG:1978) closed 20% lower as it forecast a swing to loss for the first half of 2024.

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