August 12, 2019 / 8:39 AM / 4 months ago

Hong Kong stocks end lower as protests threaten to dent economy

* HK->Shanghai Connect daily quota used 1.4%, Shanghai->HK daily quota used 4.1%

* HSI -0.4%, HSCE +0.0%, CSI300 +1.8%

* FTSE China A50 +1.9%

Aug 12 (Reuters) - Hong Kong stock market started the week on a soft footing on Monday, amid weeks of violent protests that threatened to weigh on the Asian financial hub’s economy. ** This summer’s increasingly violent demonstrations have plunged the Chinese-ruled territory into its most serious crisis in decades, presenting one of the biggest popular challenges to Chinese leader Xi Jinping since he came to power in 2012. ** Hong Kong’s protests are hitting its economy, the city’s leader Carrie Lam said, echoing warnings from business leaders including powerful local property developers.

** The Hang Seng index ended down 0.4% at 25,824.72, while the China Enterprises Index was unchanged at 9,997.94. ** Hong Kong markets marked three consecutive weekly declines. ** Hong Kong police put on a demonstration of an anti-riot water cannon on Monday, in a warning to protesters as authorities toughen their approach over violence that has roiled the Asian financial hub for two months. ** Hong Kong is at a critical juncture after two months of anti-government street protests and violence there must stop, China’s Hong Kong and Macau affairs office said on Monday. ** Shares of Hong Kong developers continued to weigh, led by New World Development ending down 3.1%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.29%. ** The yuan was quoted at 7.0683 per U.S. dollar at 0814 GMT, 0.1% weaker than the previous close of 7.0615. ** The top gainers among H-shares were China Shenhua Energy Co Ltd up 2.44%, followed by Haitong Securities Co Ltd , gaining 1.81% and New China Life Insurance Co Ltd , up by 1.46%. ** The three biggest H-shares percentage decliners were China Resources Beer Holdings Co Ltd, which closed 1.22% lower, CRRC Corp Ltd, which ended down 1.05% and China Telecom Corp Ltd, down by 0.87%. ** About 1.20 billion Hang Seng index shares were traded, roughly 88.6% of the market’s 30-day moving average of 1.36 billion shares a day. The volume traded in the previous trading session was 1.40 billion. ** At close, China’s A-shares were trading at a premium of 31.20% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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