Hong Kong shares close up 0.2 pct, Tencent at record closing high

Business & Markets 2013
Written by Reuters
Thursday, 16 May 2013 16:41
A + / A - / Reset

HONG KONG (May 16): Hong Kong shares ended the week on a loss
for the first time in a month on Thursday as weak earnings for retailer
Parkson weighed, although internet giant Tencent Holdings climbed on
the back of robust quarterly results.
The Hang Seng Index closed up 0.2 percent at 23,082.7. The China
Enterprises Index of the top Chinese listings in Hong Kong shed 0.6
percent. On the week, they lost 1 and 2.9 percent, respectively.
The CSI300 of the leading Shanghai and Shenzhen A-share listings
ended up 1.8 percent in its best percentage gain since April 24. The
Shanghai Composite Index rose 1.2 percent to 2,251.7, its best day
since May 3.
HIGHLIGHTS:
* Losses on the week were the first since the week that ended April 17
for the Hang Seng and China Enterprises indexes. Hong Kong markets
are shut for a public holiday on Friday and will resume trading on
Monday.
* Tencent Holdings jumped 6.5 percent to a record closing high after
posting a 37 percent rise in first quarter profit that was broadly in line
with market estimates, while tripling the number of active users for its
mobile chat application.
* Parkson Retail Group sank 8.5 percent to its lowest in more than
seven years after same store sales growth declined 2 percent in the
first quarter, while rental expenses jumped 31 percent. - Reuters