Market Review

Hong Kong stocks slipped 0.1% lower on Wednesday led by China Mobile (941.HK), despite a recovery in index heavyweight HSBC(5.HK). The HSI ended down 29.3 pts at 20,876.8 pts. The HSCEI closed up 0.3% at 12,048.3 pts, its highest close in six weeks. Turnover fell to HK$59.9 bn from Tuesday’s HK$72.10 bn.HSBC rebounded 1.1% to end at HK$81.45 after a 7.0% decline in the previous session following disappointing earnings for last year. Standard Chartered (2888.HK) end up 1.7% at HK$183 after the bank’s annual profit met expectations. MTR (66.HK) rose 2.6% to HK$27.95. The railway operator said a consortium comprising Wheelock (49.HK) and NWD (17.HK) had won a tender for a property development in Hong Kong which MTR would contribute one-third of the land costs.