October 4, 2019 / 4:48 AM / 5 months ago

HK stocks slide on global slowdown worries; slightly up for week

* Hang Seng down 0.5%, up 0.1% week-on-week; H-shares down 0.4%

* All eyes on U.S. jobs figures after poor economic data this week

* HK govt set to discuss emergency laws amid protracted protests

HONG KONG, Oct 4 (Reuters) - Hong Kong shares fell on Friday as investors waited for a key U.S. employment report after a host of weak data out of the world’s top economy this week fanned fears of a steeper global slowdown.

** The Hang Seng index fell 0.5% to 25,969.34, but was up 0.1% for the week. ** The index managed to stay in positive territory for the week, helped by a strong market debut of AB InBev’s Asia-Pacific unit on Monday and news of fresh government efforts to calm the months-long protests buoyed sentiment on Thursday. ** The Hang Seng China Enterprises index was down 0.4% on Friday. ** The sub-index of the Hang Seng tracking energy shares lost 0.7%, the IT sector rose 0.1%, the financial sector fell 0.5% and the property sector was flat. ** Data due later on Friday are forecast to show the U.S. economy added 145,000 new jobs in September, more than an increase of 130,000 in the previous month. ** Some traders brace for a disappointing result after surprisingly soft data earlier this week on manufacturing, job creation, and the services sector. The U.S. services sector activity slowed to a three-year low in September. ** Hong Kong’s government is expected to discuss sweeping emergency laws on Friday that would include banning face masks at protests, two sources told Reuters. Local media reported the government may ban face masks in public rallies on Thursday. ** The Hong Kong market “is looking for excuses to short squeeze, but if (U.S.) service sector data shows no signs of a positive turnaround, a deterioration of the global economy may eventually impact the (Hong Kong) market’s fundamentals,” analysts at Emperor Securities wrote in a note on Friday. ** The Hong Kong stock market will be closed on Monday, Oct.7, for the Chung Yeung Festival holiday. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.2%, while Japan’s Nikkei index was pretty much flat. (Reporting by Noah Sin; Editing by Subhranshu Sahu)

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