April 26, 2019 / 8:29 AM / a month ago

Hong Kong stocks post worst week since March on policy support worries

* HSI +0.2 pct, HSCE +0.1 pct, CSI300 -1.3 pct

* HK->Shanghai Connect daily quota used -3.1 pct

* Shanghai->HK daily quota used -0.1 pct

* FTSE China A50 -1.3 pct

SHANGHAI, April 26 (Reuters) - Hong Kong stocks inched higher on Friday, but posted their biggest weekly drop in eight weeks, as investors feared that China may scale back its stimulus measures amid signs of economic stabilisation, while the Sino-U.S. trade conflict also weighed on sentiment.

** The Hang Seng index rose 0.2 percent, to 29,605.01 points, while the China Enterprises index gained 0.1 percent, to 11,510.87.

** For the week, HSI dropped 1.2 percent, while HSCE retreated 2.2 percent, both posting their biggest weekly loss since early March.

** China’s central bank has no intent to tighten or relax monetary policy, a vice governor said on Thursday, as the market debates how much more support Beijing will give the economy after surprisingly resilient data last week.

** U.S. President Donald Trump said on Thursday he would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world’s two largest economies.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.03 percent, while Japan’s Nikkei index closed down 0.22 percent.

** The yuan was quoted at 6.7387 per U.S. dollar at 08:14 GMT, 0.09 percent firmer than the previous close of 6.7448.

** The top gainers among H-shares were China National Building Material Co Ltd up 3.69 percent, followed by Huaneng Power International Inc gaining 2.03 percent and Postal Savings Bank of China Co Ltd up by 1.3 percent.

** The three biggest H-shares percentage decliners were CGN Power Co Ltd, down 2.40 percent, Sinopharm Group Co Ltd, which fell 2.4 percent and China Merchants Bank Co Ltd down 2.4 percent.

** About 1.45 billion Hang Seng index shares were traded, roughly 82.4 percent of the market’s 30-day moving average. The volume traded in the previous trading session was 1.70 billion.

** At close, China’s A-shares were trading at a premium of 24.75 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Shounak Dasgupta)

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