November 20, 2019 / 8:29 AM / 6 months ago

Hong Kong stocks fall as China-U.S. trade worries resurface

* HK->Shanghai Connect daily quota used -0.8%, Shanghai->HK daily quota used 4.7%

* HSI -0.8%, HSCE -0.7%, CSI300 -1.0%

* FTSE China A50 -1.0%

SHANGHAI, Nov 20 (Reuters) - Hong Kong stocks fell on Wednesday as Beijing’s condemnation of a U.S. Senate measure backing anti-government protesters in the Asian financial hub renewed worries about the prospects of Sino-U.S. trade talks.

** The Hang Seng index fell 0.8%, to 26,889.61, while the China Enterprises Index lost 0.7%, to 10,619.51.

** In a statement, China’s foreign ministry said the United States should stop interfering in Hong Kong and Chinese affairs and move to stop the latest bills on Hong Kong from becoming law.

** China condemned the passage of a bill by the U.S. Senate aimed at protecting human rights in Hong Kong, amid clashes between pro-democracy protesters and police.

** In the latest episode of more than five months of protest, a final band of anti-government protesters trapped in a Hong Kong university was weighing a narrowing range of options on Wednesday as police outside appeared ready to wait them out.

** Conflicting signals from Washington and Beijing over the past few days deflated market hopes of a truce soon to end their damaging tariff war. U.S. President Donald Trump said the United States would raise tariffs on Chinese imports if no deal was reached with Beijing.

** With growth sliding to near 30-year lows and a partial trade deal with the United States proving elusive, China has slowly picked up its tempo of policy easing in recent weeks, with authorities pushing banks to keep supporting cash-strapped small- and medium-sized businesses.

** China cut its lending benchmark rate on Wednesday, as widely expected, to reduce company funding costs and shore up an economy hurt by slowing demand and U.S. trade tariffs.

** China will revise its 2018 gross domestic product estimate in the next few days to reflect an increase in the number of businesses and assets recorded in the last census, officials said.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.73%, while Japan’s Nikkei index closed down 0.62%.

** The yuan was quoted at 7.0317 per U.S. dollar at 08:10 GMT, 0.06% weaker than the previous close of 7.0272.

** At close, China’s A-shares were trading at a premium of 27.19% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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