August 9, 2019 / 8:39 AM / 9 days ago

Hong Kong stocks down for 3rd straight week amid protests, trade worries

* HK->Shanghai Connect daily quota used 0.4%, Shanghai->HK daily quota used 2.7%

* HSI -0.7%, HSCE -0.5%, CSI300 -1.0%

* FTSE China A50 -0.7%

Aug 9 (Reuters) - Hong Kong stocks skid on Friday to post their third straight week of losses, weighed by protests and weak data on the mainland, while Sino-U.S. trade worries lingered.

** The Hang Seng index fell 0.7%, to 25,939.30, while the China Enterprises Index lost 0.5%, to 9,993.84.

** For the week, HSI lost 3.5%, while HSCE dropped 3.3%.

** China’s factory gate prices shrank for the first time in three years in July, stoking deflation worries and putting pressure on Beijing to deliver more stimulus as the economy sputters amid an intensifying trade war with the United States.

** Adding pressure on the market were also the protests which threatens to further hit the island city’s economy.

** Demonstrators crowded the arrivals hall at Hong Kong airport on Friday, handing out anti-government leaflets and waving banners in a dozen languages in an effort to raise awareness among visitors ahead of a weekend of protests planned across the city.

** Fresh concerns over Sino-U.S. trade tensions emerged following a Bloomberg report that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.01%, while Japan’s Nikkei index closed up 0.44%.

** The yuan was quoted at 7.0526 per U.S. dollar at 08:14 GMT, 0.1% weaker than the previous close of 7.0455.

** The top gainers among H-shares were China Mobile Ltd up 3.17%, followed by China Telecom Corp Ltd , gaining 2.08% and Longfor Group Holdings Ltd , up by 2.06%.

** The three biggest H-shares percentage decliners were China Tower Corp Ltd, which was down 2.55%, CITIC Ltd , which fell 2.48% and New China Life Insurance Co Ltd , down by 2.1%.

** At close, China’s A-shares were trading at a premium of 30.00% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom)

Nuestros Estándares:Los principios Thomson Reuters
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