* Hang Seng index ends down 0.47%
* China Enterprises index HSCE falls 0.29% HSI financial sector sub-index is flat; property sector down 0.4%
March 5 (Reuters) - Hong Kong shares fell on Friday, after a sell-off in U.S. Treasuries and equities, after Federal Reserve Chair Jerome Powell failed to soothe investor concerns over a surge in borrowing costs. ** In his remarks, Powell declined to indicate that the Fed might step up purchases of long-term bonds to hold down longer-term interest rates, but repeated his pledge to keep credit loose and flowing until Americans are back to work. ** At the close of trade, the Hang Seng index was down 138.50 points or 0.47% at 29,098.29. The Hang Seng China Enterprises index fell 0.29% to 11,292.22. ** The sub-index of the Hang Seng tracking the IT sector dipped 1.49%, the financial sector ended 0.19% lower and the property sector dipped 0.43%. ** China moved to overhaul Hong Kong’s electoral system on Friday in a further blow to democracy in the city and set a conservative economic growth target for this year as its annual session of parliament began. ** The top gainer on the Hang Seng was Industrial and Commercial Bank of China Ltd, which gained 3.6%, while the biggest loser was Xiaomi Corp, which fell 3.74%. ** China’s main Shanghai Composite index closed down 0.04% at 3,501.99 points, while the blue-chip CSI300 index ended down 0.34%. ** The yuan was quoted at 6.4768 per U.S. dollar at 08:38 GMT, 0.09% weaker than the previous close of 6.4708. ** The top gainers among H-shares were China Tower Corp Ltd up 5.13%, followed by Agricultural Bank of China Ltd , gaining 4.42% and Industrial and Commercial Bank of China Ltd, up by 3.6%. ** The three biggest H-shares percentage decliners were Alibaba Health Information Technology Ltd, which was down 8.11%, JD Health International Inc, which fell 5.08% and Kuaishou Technology, down by 4.87%. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)
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