Hang Seng closes flat
(08-21 16:17)
Hong Kong shares ended flat today, as strength in the Chinese consumer sector outweighed a 3 percent loss for China's leading offshore oil producer CNOOC Ltd after its first half net profit fell twice as much as the market had expected.
The Hang Seng Index closed down 0.02 percent at 20,100.1. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 0.3 percent at 9,826.
In the mainland, the Shanghai Composite Index closed up 0.5 percent at 2,118.3, its biggest gain since August 9. The CSI300 Index of the top Shanghai and Shenzhen listings also gained 0.5 percent, Reuters reports.
CNOOC suffered its worst daily showing in a month after it posted at the midday trading break first half net profit that underwhelmed expectations. It also cut its dividend by 40 percent to make room for its US$15.1 billion acquisition of Canadian oil firm Nexen Inc.
Chinese retailers rose after a few companies in the sector posted at the midday trading break first half net profits that fell less than expected. Peak Sport gained 3.7 percent, spurring a 7 percent jump for Li Ning, while GOME Electrical Appliances surged 14 percent in relatively good volume.
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