Real estate and coal push mainland markets up, Hong Kong ends slightly up despite dismal day

Mainland markets advanced again, led by property and coal shares, with 45 stocks surging to the 10 percent trading cap. Most Hong Kong stocks fell while the benchmark index fluctuated.

The Shanghai Comprehensive Index advanced 0.92 percent to 3088.37, ending the week with a gain of 5.47 percent, the largest weekly gain in two months. The SME Comprehensive Index added 0.01 percent to 4399.58.

The Hang Seng Index gained 0.14 percent to 18203.40, ending the week with a loss of 2.13 percent. The Hang Seng Growth Enterprises Index advanced 0.55 percent to 580.95. The Hang Seng China Enterprise Index added 0.11 percent to 10983.77.

Taiwan's TAIEX Index slid 0.03 percent to 6665.40.

Sinopec (SH:600028; HK:0386), Asia’s largest oil refiner, advanced 2.41 percent on Shanghai trading and 1.53 percent on Hong Kong trading, after price of crude oil dropped.

Non-ferrous metal shares retreated on lower metal prices. Chinalco (SH:601600;HK:2600), China's largest Aluminium producer, declined 0.79 percent on Shanghai and 1.09 percent on Hong Kong. Jiangxi Copper Co. (SH:600362; HK:0358), declined 2.24 percent on Shanghai.

Power output up 3.6 percent in June, coal shares rise

Coal shares advanced after China’s power output in June increased 3.6 percent year on year. China Shenhua Energy Co. (SH:601088; HK:1088), China’s largest coal miner, added 5.19 percent on Shanghai and 2.29 percent on Hong Kong. Guizhou Panjiang Refined Coal Co. (SH:600395) and Taiyuan Coal Gasification Company Limited (SZ:000968) surged to the 10 percent trading cap.

Real estate, performer of the week

Real estate developers surged an average 5 percent today on optimism about property prices. Ten developers surged to the 10 percent trading cap, including Shanghai Hainiao Enterprise Development Co. (SH:600634), Chengdu Hi-Tech Development Co. (SZ:000628) and Guangdong Shirongzhaoye Co. (SZ:002016).

Mainland property shares added 12 percent on average this week, China Vanke Co. (SZ:000002), the nation’s largest listed developer, advanced 13.33 percent. Poly Realestate Co. (SH:600048), the second-largest, added 14.57 percent. Shenzhen Changchen Investment Holdings (SZ:000042) soared 30.53 percent. Shenyang Ingenious Development Co. (SZ:000511) surged 26.94 percent. Zhejiang Xinhu Venture Investment Co. (SH:600840) jumped 26.22 percent. Shanghai Shimao Co. (SH:600823) gained 25.99 percent.

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