November 26, 2019 / 8:56 AM / 7 months ago

Hong Kong shares end lower; Alibaba marks solid HK debut

* Hang Seng index ends down 0.29%

* China Enterprises index HSCE falls 0.11%

* Alibaba shares rise 6.6% over issue price; small premium over NY

* HSI financial sector sub-index flat; property sector -1%

Nov 26 (Reuters) - Hong Kong stocks ended lower on Tuesday as investors locked in profit after a recent rally, while Alibaba’s shares rose to a small premium over New York in their debut at the financial hub. ** At the close of trade, the Hang Seng index was down 79.12 points or 0.29% at 26,913.92 after gaining nearly 2% over the previous two sessions. The Hang Seng China Enterprises index closed 0.11% weaker at 10,617.37. ** Hong Kong leader Carrie Lam acknowledged on Tuesday that the record turnout in local elections won by opposition, pro-democracy candidates highlighted dissatisfaction with her administration, while appealing for an end to violent protests. Analysts cited that smooth elections helped lift Asian markets on Monday. ** Hong Kong-listed shares of Alibaba Group ended the day at HK$187.60, up 6.6% from the issue price of HK$176, and representing a small premium to pricing in New York. ** The sub-index of the Hang Seng tracking energy shares dipped 0.2%, while the IT sector dropped 0.29%, the financial sector ended 0.22% lower and the property sector lost 1.03%. ** The top gainer on the Hang Seng was China Mengniu Dairy Co Ltd, which ended up 3.04%, while the biggest loser was AAC Technologies Holdings Inc, which fell 4.88%. ** China’s main Shanghai Composite index closed up 0.03% at 2,907.06 points, while the blue-chip CSI300 index ended 0.35% firmer. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.02%, while Japan’s Nikkei index closed up 0.35%. ** The yuan was quoted at 7.0341 per U.S. dollar at 0814 GMT, 0.02% firmer than the previous close of 7.0355. ** The top gainers among H-shares were ENN Energy Holdings Ltd , which closed up 2.64%, followed by Want Want China Holdings Ltd, which ended 2.41% firmer and China Minsheng Banking Corp Ltd, up by 1.64%. ** The three biggest H-shares percentage decliners were China Resources Beer Holdings Co Ltd, which closed down 2.82%, China Gas Holdings Ltd, which ended 1.74% weaker and China Railway Group Ltd, down by 1.65%. ** About 2.42 billion Hang Seng index shares were traded, roughly 162.9% of the market’s 30-day moving average of 1.48 billion shares a day. The volume traded in the previous trading session was 1.50 billion. (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips)

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