November 3, 2016 / 8:22 AM / 2 years ago

Hong Kong shares end on 2-1/2 month low as U.S. election worry weighs

SHANGHAI, Nov 3 (Reuters) - Hong Kong stocks closed at a 2-1/2-month low on Thursday, as worries over the tightening U.S. presidential election race outweighed optimism generated by an upbeat China service sector survey.

The Hang Seng index fell 0.6 percent to 22,683.51 points, while the China Enterprises Index lost 0.4 percent to 9,482.01.

Hang Seng’s close is the lowest since Aug. 11, though the index drew brief support from a private survey showing growth in China’s services sector accelerated in October.

All main sectors fell, with energy and technology shares leading the decline.

Traders said the U.S. election represents the biggest risk to investors and suppressed risk appetite, driving money flows into perceived safe haven assets like gold.

Polls in the past week have led markets to price in more risk that Republican Donald Trump might defeat his Democratic rival Hillary Clinton.

Charles Wang, Chairman of Shenzhen-based Appleridge Capital Management Co, said he expects the Hong Kong market to draw support from mainland investors once the Shenzhen-Hong Kong Stock Connect scheme is launched. (Reporting by Samuel Shen and John Ruwtich; Editing by Simon Cameron-Moore)

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