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The storm had already claimed the lives of at least two people in China's Hainan and 16 people in the Philippines
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Hong Kong shares close down 0.8 pct at lowest in a month
Hong Kong shares produced a second-straight loss on Tuesday, dragged lower by a 4 percent loss for CNOOC after the Chinese oil giant announced plans to acquire Canadian oil producer Nexen Inc for $15.1 billion.
The Hang Seng Index closed down 0.8 percent at 18,903.2, the lowest close since June 25. The China Enterprises Index of the top Chinese listings in Hong Kong ended down 0.6 percent at 9,217.2.
In the mainland, the CSI300 Index of the top Shanghai and Shenzhen listings gained 0.5 percent. The Shanghai Composite Index rose 0.2 percent from Monday’s 40-month closing low.
HIGHLIGHTS:
- Hong Kong markets only began trading in the afternoon as Typhoon Vincente forced cancellation of the morning session. Turnover suffered more than usual as a result, hurting sentiment that was not improved even by a preliminary survey showing a slight improvement in July manufacturing activity in China.
- CNOOC Ltd closed at the lowest since June 26. Investors were unimpressed with the hefty 61 percent premium to Nexen’s Friday stock price at which China’s third-largest oil company is planning to take over the Canadian oil producer. (Reporting by Clement Tan; Editing by Richard Borsuk)
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