Hong Kong stocks seesaw amid mixed earnings

Hong Kong's stock market struggled to keep its head above water Thursday morning, as the Hang Seng Index HK:HSI -0.20% traded down less then 0.1% after a brief opening rise. Index heavyweight Tencent Holdings Ltd. HK:0700 -2.10% TCTZF +2.33% extended losses by 1.9%, even after reporting late Wednesday that its net profit jumped 59% in the first half of the year.

Chinese sportswear retailer Li Ning Co. HK:2331 -1.20% LNNGF +5.00% declined 2.2% after it posted a net loss of about $95 million for the first six months of the year. However, Chinese computer maker Lenovo Group Ltd. HK:0992 +0.70% LNVGF -1.01% advanced 1.2%, after its earnings grew 23% in the latest fiscal quarter, exceeding market expectations.

China Mobile Ltd. HK:0941 -0.92% CHL -0.80%, due to release its own results later in the day, improved y 0.2%. Meanwhile, over on the Chinese mainland, the Shanghai Composite Index CN:SHCOMP -0.09% pulled back 0.3%.

Source: marketwatch.com