Hong Kong shares open weaker; cement firms extend gains after China quake

Byswb

Updated Wed, 14 May 2008 00:00:00 GMT

Share prices opened weaker as a mixed Wall Street and record oil prices prompted investors to lock in gains from the market's nearly 2 pct rise yesterday.

China cement and steel firms continued to benefit from hopes of a rise in demand due to reconstruction work after Monday's earthquake in Sichuan province.

The Hang Seng index opened down 91.4 points or 0.36 pct at 25,461.37.

Among China cement and steel firms, Anhui Conch Cement was up 1.15 hkd or 1.75 pct at 66.95, China National Material rose 0.32 hkd or 1.71 pct to 19.02, Sinoma was up 0.04 hkd or 0.5 pct at 7.99 and Maanshan Iron added 0.195 hkd or 3.51 pct at 5.75.

Source:XFN-ASIA