March 25, 2019 / 8:27 AM / 3 months ago

REFILE-Hong Kong stocks post worst day in three months after global selloff

(Corrects to add dropped word ‘stocks’ in headline)

* HK->Shanghai Connect daily quota used -14 pct, Shanghai->HK daily quota used 5.8 pct

* HSI -2.0 pct, HSCE -2.5 pct, CSI300 -2.4 pct

* FTSE China A50 -2.9 pct, BNY Mellon ADR China Select Index -3.0 pct

SHANGHAI, March 25 (Reuters) - Hong Kong stocks posted their worst day in nearly three months on Monday, tracking a global selloff, as investors fled equities on growing fears about a U.S. recession, and on caution ahead of fresh U.S.-China trade talks.

** The Hang Seng index fell 2 percent to 28,523.35 points, its biggest single-day drop since Jan. 2, while the China Enterprises Index lost 2.5 percent to 11,232.07 points.

** On Friday, all three major U.S. stock indexes marked their biggest one-day percentage losses since Jan. 3. The Dow slid 1.8 percent, the S&P 500 was off 1.9 percent and the Nasdaq dropped 2.5 percent.

** There was also caution ahead of the latest round of trade talks.

** United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for talks scheduled to start on March 28, while a Chinese delegation led by Vice Premier Liu He will visit Washington next week, the White House said on Saturday.

** Sectors fell across the board, led by energy firms.

** The Hang Seng energy index tumbled 4.1 percent, as China’s biggest coal miner China Shenhua plummeted 6.9 percent after slower profits in 2018.

** Around the region, MSCI’s Asia ex-Japan stock index fell 1.65 percent, while Japan’s Nikkei index closed down 3.01 percent.

** The yuan was quoted at 6.7136 per U.S. dollar at 08:14 GMT, 0.07 percent firmer than the previous close of 6.718.

** The top gainers among H-shares were China Telecom Corp Ltd, up 0.46 percent, followed by Guangdong Investment Ltd, up 0.27 percent.

** The biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which was down 6.98 percent, China Shenhua Energy Co Ltd, which fell 6.7 percent and China National Building Material Co Ltd, down by 5.7 percent.

** China’s A-shares were trading at a premium of 23.30 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Edited by Shreejay Sinha)

Nuestros Estándares:Los principios Thomson Reuters
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