Hong Kong Stocks Struggle After Four Days Of Losses

MarketWatch Pulse

Hong Kong stocks struggled to stay above the water on Friday after four straight day of losses, with the Hang Seng Index off 0.1%. Bourse operator Hong Kong Exchange & Clearing Ltd. dropped 0.9%, poised to fall for a sixth day in a row, as investors reacted to lower-than-expected volumes in the Hong Kong-Shanghai Stock Connect program. Brokerage firms were also broadly weaker, as Guotai Junan International Holdings Ltd. declined 1.1%, Haitong Securities Co. retreated 1%, and Shenyin Wanguo HK Ltd. pulled back 0.5%. Most Macau gaming stocks posted losses, as Sands China Ltd. dropped 1%, SJM Holdings Ltd. gave up 0.9%, and Wynn Macau Ltd. slid 2.3% after a Wall Street Journal report said U.S. authorities were probing possible money-laundering violations involving the parent company Wynn Resorts Ltd. . Among major blue chips, HSBC Holdings PLC dropped 0.7%, online major Tencent Holdings Ltd. slipped 0.2%, and telecoms giant China Mobile Ltd. rose 0.9%. Meanwhile, China Railway Construction Corp. , one of China's largest construction companies, climbed 2.9% after it signed the country's biggest overseas contract in history with Nigeria for nearly $12 billion. China Railway Group Ltd. also rose, trading 2.4% higher. Over on the mainland, the Shanghai Composite Index edged 0.2% lower.

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