April 30, 2019 / 8:43 AM / 3 months ago

Hong Kong stocks end lower as investors await fresh stimulus

April 30 (Reuters) - Hong Kong shares ended weaker on Tuesday, dented by declines in property and energy stocks, as investors awaited fresh market stimulus after decent gains so far this year.

** The Hang Seng index closed 0.7 percent lower at 29,699.11, while the China Enterprises Index ended down 0.8 percent at 11,542.25 points.

** The market will be closed on Wednesday for Labour Day holiday, and will resume trading on Thursday, May 2.

** Hang Seng has gained roughly 15 percent so far this year, fuelled by expectations of China’s economic recovery, hopes for a Sino-U.S. trade deal, and more dovish stance by the U.S. Federal Reserve.

** Factory activity in China expanded for a second straight month in April but at a much lower pace than expected, an official survey showed on Tuesday, suggesting the economy is still struggling for traction despite a flurry of support measures.

** The sub-index of the Hang Seng tracking energy shares dropped 1.8 percent, while the IT sector dipped 0.46 percent, the financial sector ended 0.28 percent lower and the property sector closed 1.21 percent down. ** The top gainer on the Hang Seng was WH Group Ltd, which gained 5.44 percent, while the biggest decliner was AAC Technologies Holdings Inc, which closed 3.61 percent weaker. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.46 percent, while Japan’s Nikkei index closed 0.22 percent lower. ** The yuan was quoted at 6.7368 per U.S. dollar, as of 0830 GMT, 0.03 percent weaker than previous close of 6.7346. ** The top gainers among H-shares were Haitong Securities Co Ltd up 1 percent, followed by SINOPHARM GROUP CO LTD , which ended up 0.98 percent and New China Life Insurance Co Ltd, which closed 0.81 percent higher. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd, which ended down 4.10 percent, CNOOC Ltd, which closed 3.4 percent weaker and China Merchants Bank Co Ltd, which ended down 2.5 percent. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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