February 9, 2018 / 8:37 AM / a month ago

Hang Kong stocks crumble, cap biggest weekly fall since global financial crisis

* Hang Seng index ends down 3.1 pct

* China Enterprises index HSCE falls 3.9 percent

* HSI financial sector sub-index is 3.2 percent lower; property sector down 3.1 percent

Feb 9 (Reuters) - Hong Kong’s Hang Seng Index tumbled 3.1 percent on Friday and capped its biggest weekly drop since the depths of the global financial crisis in 2008, as tumult on Wall Street rippled across Asia. ** At close of trade, the Hang Seng index was down 943.85 points or 3.1 percent at 29,507.42. The Hang Seng China Enterprises index fell 3.87 percent to 11,901.67. ** For the week, Hang Seng tumbled 9.5 percent, the biggest weekly loss since October, 2008. HSCE posted a weekly loss of 12.01 percent. **The sub-index of the Hang Seng tracking energy shares skidded 3.4 percent while the IT sector fell 3.01 percent, the financial sector was 3.23 percent lower and property sector was off 3.08 percent. ** The top gainer on Hang Seng was Sunny Optical Technology Group Co Ltd up 1.68 percent, while the biggest loser was Country Garden Holdings Co Ltd which tumbled 6.69 percent. ** China’s main Shanghai Composite index closed down 4.02 percent at 3,130.9348 points while its blue-chip CSI300 index was off sharply by 4.26 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.93 percent while Japan’s Nikkei index closed down 2.32 percent . ** The yuan was quoted at 6.298 per U.S. dollar at 08:20 GMT, 0.32 percent firmer than the previous close of 6.3185. ** As of the previous trading session, the Hang Seng index was up 1.78 percent this year, while China’s H-share index was up 5.7 percent. As of the previous close, the Hang Seng has declined 7.41 percent this month. ** The top gainers among H-shares were China Telecom Corp Ltd up 1.68 percent, followed by Zhuzhou CRRC Times Electric Co Ltd gaining 1.94 percent and Sinopharm Group up by 2.73 percent. ** The three biggest H-shares percentage decliners were CITIC Securities Co Ltd which was down 7.71 percent, China Galaxy Securities Co Ltd which fell 6.9 percent and Huatai Securities Co Ltd down by 6.3 percent. ** About 5.33 billion Hang Seng index shares were traded, roughly 175.5 percent of the market’s 30-day moving average of 3.04 billion shares a day. The volume traded in the previous trading session was 3.24 billion. ** At close, China’s A-shares were trading at a premium of 31.24 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 13.87 as of the last full trading day while the dividend yield was 2.9 percent. (Reporting by the Shanghai Newsroom Editing by Shri Navaratnam)

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