August 16, 2018 / 8:58 AM / in 3 months

Hong Kong shares fall for 5th straight day; Tencent down 3 pct

* Hang Seng index ends 0.8 pct lower

* China Enterprises index HSCE falls 0.5 pct

* HSI financial sector sub-index 1.1 pct lower; property sector up 0.2 pct

* Tencent falls after first-ever quarterly profit decline

Aug 16 (Reuters) - Shares in Hong Kong fell for a fifth consecutive session on Thursday, as concerns over slower growth in China and Turkey’s currency crisis weighed on regional markets, but hopes of a possible rapprochement between the United States and China helped the Hang Seng index cut losses. ** China said it will hold a fresh round of trade talks with the United States in Washington later this month, offering hope for resolution of a conflict that has set world markets on edge. ** At the close of trade, the Hang Seng index fell 0.8 percent to 27,100.06, while the China Enterprises Index lost 0.5 percent to 10,479.68. ** The sub-index of the Hang Seng tracking energy shares dipped 1.5 percent, the IT sector declined 2.32 percent, the financial sector was 1.09 percent lower and the property sector rose 0.15 percent. ** Tech shares fell after internet giant Tencent logged its first quarterly profit decline in nearly 13 years and said it did not know when it would get Chinese approval to make money off its most popular game. ** The top gainer on the Hang Seng was Country Garden Holdings Co Ltd, up 2.93 percent, while the biggest loser was WH Group Ltd which was down 7.46 percent. ** China’s main Shanghai Composite index closed down 0.63 percent at 2,723.2576, while its blue-chip CSI300 index ended down 0.44 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.34 percent, while Japan’s Nikkei index closed down 0.05 percent. ** The yuan was quoted at 6.8948 per U.S. dollar at 08:34 GMT, 0.57 percent firmer than the previous close of 6.934. ** As of the previous trading session, the Hang Seng index was down 8.68 percent this year, while China’s H-share index was down 10.0 percent. As of the previous close, the Hang Seng has declined 4.41 percent this month. ** The top gainer among H-shares was Air China Ltd which rose 2.36 percent. ** The biggest H-shares percentage decliner was China Gas Holdings Ltd, which was down 4.42 percent. ** About 2.20 billion Hang Seng index shares were traded, roughly 129.3 percent of the market’s 30-day moving average of 1.70 billion shares a day. The volume traded in the previous trading session was 1.97 billion. ** At close, China’s A-shares were trading at a premium of 17.05 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.47 as of the last full trading day while the dividend yield was 3.5 percent. ** So far this week, the market capitalisation of the Hang Seng index has fallen by 4.18 percent to HK$17.66 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 0.71 percent on the day at 5,208.45 points. (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)

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