July 17, 2019 / 8:45 AM / 3 months ago

Hong Kong shares dip as investors await earnings, fret over trade

* Hang Seng index ends down 0.09% amid low trading volume

* China Enterprises index HSCE falls 0.16%

* HSI financial sector sub-index flat; property sector down 0.1%

July 17 (Reuters) - Shares in Hong Kong slipped on Wednesday, echoing the subdued mood of regional markets, as global investors waited for more U.S. corporate results and as worries over trade and slowing growth continued to drag on sentiment.

** At the close of trade, the Hang Seng index was down 26.45 points, or 0.09%, at 28,593.17. The Hang Seng China Enterprises index fell 0.16% to 10,847.91. ** Many investors chose to sit on the sidelines, keeping trading volumes low. About 979.84 million Hang Seng index shares were traded, roughly 65.5% of the market’s 30-day moving average of 1.50 billion shares a day. ** The sub-index of the Hang Seng tracking energy shares dipped 0.8%, while the IT sector rose 0.18%, the financial sector ended 0.06% lower and the property sector dipped 0.14%. ** U.S. retail sales increased more than expected in June, reducing market expectations for an aggressive interest rate cut by the Federal Reserve at its meeting this month, though a smaller cut is still expected. ** Reviving concerns over trade negotiations, U.S. President Donald Trump said on Tuesday the United States still has a long way to go to conclude a trade deal with China, but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so. ** The United States did not fully comply with a World Trade Organization ruling and could face Chinese sanctions if it does not remove certain tariffs that break WTO rules, the WTO’s appeals judges said in a ruling on Tuesday. ** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, which gained 3.04%, while the biggest loser was WH Group Ltd, which fell 1.89%. ** China’s main Shanghai Composite index closed down 0.2% at 2,931.69 points, while the blue-chip CSI300 index ended down 0.06%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.25%, while Japan’s Nikkei index closed down 0.31%. ** The yuan was quoted at 6.8795 per U.S. dollar at 08:25 GMT, 0.05% weaker than the previous close of 6.876. ** The top gainers among H-shares were China National Building Material Co Ltd up 2.54%, followed by Guangzhou Automobile Group Co Ltd, gaining 2.11% and China Vanke Co Ltd, up by 1.77%. ** The three biggest H-shares percentage decliners were CNOOC Ltd, which was down 1.79%, Postal Savings Bank of China Co Ltd, which fell 1.47% and CSPC Pharmaceutical Group Ltd, down by 1.46%. (Reporting by Andrew Galbraith; editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below