May 7, 2020 / 8:53 AM / 23 days ago

Hong Kong shares close lower amid bleak global trade outlook

* HSI -0.65%, HSCE -0.44%, CSI300 -0.29%

* China posts a double-digit fall in imports in April

* Trump to report on China’s fulfillment of trade deal

BEIJING/SHANGHAI, May 7 (Reuters) - Hong Kong shares ended lower on Thursday, as sentiment was weighed by a bleak outlook for global trade after China reported a double-digit fall in imports in April and renewed tensions between the Washington and Beijing.

** The fall in China’s April imports signals more trouble ahead as the global economy sinks into recession, but data showed exports unexpectedly rose for the first time this year as factories raced to make up for lost sales due to the coronavirus crisis.

** At the close of trade, the Hang Seng index was down 156.85 points or 0.65% at 23,980.63. The Hang Seng China Enterprises index fell 0.44% to 9,764.26. ** The sub-index of the Hang Seng tracking energy shares dipped 0.6%, while the IT sector dipped 0.75%, the financial sector ended 0.49% lower and the property sector dipped 0.85%. ** U.S. President Donald Trump said on Wednesday he would be able to report in about a week or two whether China is fulfilling its obligations under a Phase 1 trade deal the two countries signed in January before the novel coronavirus spread globally.

** The three biggest H-shares percentage decliners were BYD Co Ltd, down 2.26%, Haitong Securities Co Ltd, which fell 1.64% and Guangdong Investment Ltd, off 1.63%.

** China’s main Shanghai Composite index closed down 0.23% at 2,871.52 points, while the blue-chip CSI300 index ended 0.29% lower. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.29%, while Japan’s Nikkei index closed up 0.28%.

** The yuan was quoted at 7.092 per U.S. dollar at 08:10 GMT, 0.16% firmer than the previous close of 7.1035.

Reporting by Zhang Yan in Beijing, and Andrew Galbraith in Shanghai; Editing by Amy Caren Daniel

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