July 18, 2017 / 8:37 AM / in a year

Hong Kong stocks end slightly higher as tech gains offset financials losses

HONG KONG, July 18 (Reuters) - Hong Kong stocks rose for a seventh straight session on Tuesday as gains in the technology and energy sectors offset losses in financial stocks.

The Hang Seng index finished 0.2 percent, or 54.36 points higher at 26,524.94.

Record gains by Apple supplier AAC Technologies, which rose as much as 8.5 percent, helped drive up the technology sector, while respective 0.8 percent and 1.35 percent advances in Petrochina and China Shenhua shares supported the energy sector.

Big banks proved major drags on the benchmark with the financial index down 0.2 percent.

China Construction Bank and Bank of China shares, among the biggest in the financial sector by market value, lost 0.3 percent and 0.8 percent respectively and were among the biggest decliners on the index by weight.

A 2.6 percent loss in Geely Automobile Holdings shares sent the consumer cyclicals sector hobbling.

Property developer Sunac China Holdings finished 7.2 percent lower, after its shares fell as much as 13.5 percent in early trading after media reports said Chinese banks are reviewing the property group’s financial risk.

The Hang Seng China Enterprises Index, that tracks the performance of China companies listed in Hong Kong, fell 0.26 percent, or 27.91 points, to 10,755.28.

Reporting by Rushil Dutta in Hong Kong; Editing by Sam Holmes

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