August 15, 2018 / 8:54 AM / 3 months ago

Regional weakness drags Hong Kong shares to end near one-year low

* Hang Seng index ends down 1.6 pct

* China Enterprises index HSCE falls 2 percent

* HSI financial sector sub-index is 1.5 percent lower

* Property sector down 1.5 percent

Aug 15 (Reuters) - Stocks in Hong Kong fell on Wednesday along with their regional counterparts, ending near one-year lows on bearish Chinese investor sentiment and broader concerns about emerging markets sparked by Turkey’s financial crisis. ** At close of trade, the Hang Seng index was down 429.34 points, or 1.55 percent, at 27,323.59. The Hang Seng China Enterprises index fell 1.95 percent to 10,535.14. ** The sub-index of the Hang Seng tracking energy shares dipped 1.9 percent while the IT sector dipped 3.75 percent , the financial sector was 1.48 percent lower and property sector dipped 1.54 percent. ** The top gainer on Hang Seng was WH Group Ltd up 8.24 percent, while the biggest loser was Geely Automobile Holdings Ltd which was down 5.25 percent. ** China’s main Shanghai Composite index closed down 2.06 percent at 2,780.9646 while its blue-chip CSI300 index ended down 2.38 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.88 percent while Japan’s Nikkei index closed down 0.68 percent. ** The yuan ended its onshore trading session at 6.9049 per dollar, the weakest such close since May 9, 2017.

** The yuan weakened to a 15-month low on Wednesday and flirted with a key support level not seen since 2008 as the dollar extended gains and a raft of data pointed to further slowing in China’s economy. ** As of the previous trading session, the Hang Seng index was down 7.24 percent this year, while China’s H-share index was down 8.2 percent. As of the previous close, the Hang Seng has declined 2.9 percent this month. ** The top gainers among H-shares were China Mobile Ltd up 0.56 percent, followed by China Telecom Corp Ltd gaining 0.28 percent.

** The three biggest H-shares percentage decliners were China Gas Holdings Ltd which was down 6.70 percent, Byd Co Ltd which fell 5.5 percent and Great Wall Motor Co Ltd down by 5.3 percent. ** About 1.97 billion Hang Seng index shares were traded, roughly 115.3 percent of the market’s 30-day moving average of 1.71 billion shares a day. The volume traded in the previous trading session was 1.54 billion. ** At close, China’s A-shares were trading at a premium of 16.52 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.64 as of the last full trading day while the dividend yield was 3.4 percent. ** So far this week, the market capitalisation of the Hang Seng index has fallen by 2.53 percent to HK$17.96 trillion. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 1.55 percent on the day at 5,171.96. (Reporting by Andrew Galbraith; Editing by Gopakumar Warrier)

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