Shares in Hong Kong found solid ground and Wednesday’s trading ended stronger. They took a toll on the growth of technology stocks after Chinese President Xi Jinping emphasized the protection of property rights in his speech in Shenzhen.
The Hong Kong Stock Exchange index Hang Seng added only seven-hundredths of a percent, but the sub-indices show which stocks performed best. The technology segment added almost two percent, while energy stocks weakened by 2.8 percent.
However, the technological shares reacted positively to the speech of Chinese President Xi Jinping, who emphasized the importance of property rights in Shenzhen. He said Shenzhen would strengthen property rights and increase investor and business protection. He also promised that the Chinese government will emphasize the acceleration of reforms.
Shares on two Chinese stock exchanges (in Shanghai and Shenzhen) ended the trading day in red territory on Wednesday. The Shanghai aggregate index weakened by 0.56 percent, while the Shenzhen index fell by 0.51 percent. The decline was reflected in the collection of profits by investors. The agricultural and real estate sectors weakened the most. Shares in both of these segments fell by more than a percent.