More Foreign Investments Lift Yen
More Foreign Investments Lift Yen

Hong Kong's Hang Seng index slipped by 0.4% to 24,303.07 points, after rising 5% last month and the Shanghai's key stock index closed at a lower of 0.2% at 3,022.7.

The revival of the foreign investor’s interest by attractive valuations and a healthy economy stabilized the inflow of the funds thus increasing the Chinese share prices.

In flat market, the firms listed at Kong-listed grew by 0.2 percent.

Petrochina jumped by 2.8% while Zijin Mining, the gold mining company recorded increase of 2.6% due to increase in metal prices.

Alan Lam, Greater China analyst at Julius Baer in Hong Kong claimed that the foreign investors prefer North Asian and have invested more than $1 billion in the Asian markets led to the recovery of yen.

Alex Wong, Asset-Management Director at Ample Capital Ltd. in Hong Kong, said, “The sentiment remains bullish, but people are not too keen on certain sectors, like local property. People are a bit concerned about interest rates, and sales to residential projects are not picking up too strongly”.

China resources declined by 3.75 to HK$15.06, while the southern Chinese city’s biggest real-estate company, Guangzhou R&F Properties Co., slipped by  2.8 percent to HK$11.32 and 2.6% decline to HK$11.86  has been recorded in the shares of Shimao Property Holdings Ltd.

According to Customs Bureau, the import of China has climbed by 27.3% and the exports of the country have surged up by 35.8 percent in March.

Shifting of rating by Piper Jaffray Cos. from “overweight” to “neutral” caused slipping of China Gas Holdings Ltd. by 2.9% to HK$3.63.

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