August 14, 2018 / 8:27 AM / 3 months ago

Hong Kong stocks fall for 3rd day after soft China data

* Hang Seng index ends down 0.7 pct

* China Enterprises index HSCE falls 0.2 pct

* HSI financial sector sub-index flat; property sector down 0.2 pct

SHANGHAI, Aug 14 (Reuters) - Hong Kong stocks fell for a third straight session on Tuesday, after data showed further signs of cooling in China’s economy and as trade war worries lingered. ** The Hang Seng index fell 0.7 percent to 27,752.93 points, while the China Enterprises Index lost 0.2 percent to 10,744.31 points. ** China’s economy is showing signs of cooling further as the United States prepares even tougher trade tariffs, with investment growth slowing to a record low and consumers turning more cautious about spending, data showed on Tuesday. ** China on Tuesday condemned measures targeting it in a new U.S. defence act, saying it would comprehensively assess aspects that beef up the role of a panel tasked with reviewing foreign investment proposals. ** Tencent Holdings Ltd’s shares fell amid concerns of a hit to the Chinese technology firm’s gaming revenue after regulators blocked the sale of one of its blockbuster titles. ** The sub-index of the Hang Seng tracking energy shares rose 0.4 percent, the IT sector dipped 3.49 percent, the financial sector was 0.19 percent lower and the property sector declined 0.16 percent. ** The top gainer on Hang Seng was CLP Holdings Ltd, up 3.27 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd, which was down 24.65 percent. ** China’s main Shanghai Composite index closed down 0.17 percent at 2,785.872 points, while its blue-chip CSI300 index ended down 0.51 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.02 percent, while Japan’s Nikkei index closed up 2.28 percent. ** The yuan was quoted at 6.8838 per U.S. dollar at 08:10 GMT, 0.09 percent firmer than the previous close of 6.89. ** As of the previous session, the Hang Seng index was down 6.63 percent this year, while China’s H-share index was down 8.1 percent. As of the previous close, the Hang Seng has declined 2.26 percent this month. ** The top gainers among H-shares were Guangdong Investment Ltd , up 3.83 percent, followed by China Huarong Asset Management Co Ltd, gaining 2.14 percent, and China Railway Group Ltd, up by 2.08 percent. ** The three biggest H-shares percentage decliners were CSPC Pharmaceutical Group Ltd, which was down 3.90 percent, Tencent Holdings Ltd, which fell 3.8 percent, and Shenzhou International Group Holdings Ltd, down by 3.7 percent. ** About 1.54 billion Hang Seng index shares were traded, roughly 86.7 percent of the market’s 30-day moving average of 1.77 billion shares a day. The volume traded in the previous trading session was 1.53 billion. ** At close, China’s A-shares were trading at a premium of 16.98 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.71 as of the last full trading day, while the dividend yield was 3.4 percent. (Reporting by the Shanghai Newsroom, Editing by Subhranshu Sahu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below