October 24, 2018 / 8:46 AM / in a month

HK shares end lower on weak sentiment; oil producers weigh

* Hang Seng index ends down 0.4 pct

* China Enterprises index HSCE falls 0.1 percent

* HSI financial sector sub-index ends flat; energy sector dips 1.1 pct

Oct 24 (Reuters) - Hong Kong shares reversed early gains to end lower on Wednesday as energy firms dropped on lower oil prices and as concerns linger over economic risks posed by $620 billion worth of shares pledged for loans in mainland markets.

** At the close of trade, the Hang Seng index was down 0.4 percent at 25,249.78 points, while the China Enterprises Index lost 0.1 percent to 10,226.41 points. ** The sub-index of the Hang Seng tracking energy shares dipped 1.1 percent as oil prices slid, while the IT sector lost 1.14 percent. The financial sector ended 0.38 percent lower and the property sector dipped 0.02 percent. ** About $620 billion worth of shares pledged as collateral for loans is hobbling Beijing’s efforts to stimulate markets, and could pose a threat to an already-slowing economy. ** The top gainer on the Hang Seng was coal producer China Shenhua Energy Co Ltd, which ended 2.69 percent firmer, while the biggest loser was Sunny Optical Technology Group Co Ltd, which ended 4.13 percent lower. ** The Shanghai Composite index gave up ground after gaining 1.5 percent at midday to end 0.33 percent higher at 2,603.30 points. The index slipped 2.26 percent on Tuesday and dropped 7.7 percent for the month. The blue-chip CSI300 index ended 0.2 percent higher. ** Around the region, MSCI’s Asia ex-Japan stock index dipped 0.12 percent, while Japan’s Nikkei index closed 0.37 percent higher. ** The yuan was quoted at 6.941 per U.S. dollar at 0818 GMT, barely changed from the previous close of 6.9411. ** As of previous trading session, the Hang Seng index was down 15.28 percent this year, while China’s H-share index dropped 12.6 percent. As of previous close, the Hang Seng declined 8.79 percent this month. ** The top gainers among H-shares were China Gas Holdings Ltd , which ended up 3.4 percent, followed by Byd Co Ltd , which closed 2.71 percent higher and China Shenhua Energy Co Ltd, which closed up 2.69 percent. ** The three biggest H-shares percentage decliners were Huaneng Power International Inc, which ended down 6.07 percent, PICC Property and Casualty Co Ltd, which closed 5.2 percent lower and CNOOC Ltd, which ended down 3.8 percent. ** About 2.02 billion Hang Seng index shares were traded, roughly 115.1 percent of the market’s 30-day moving average of 1.76 billion shares a day. The volume traded in the previous trading session was 1.83 billion. ** At close, China’s A-shares were trading at a premium of 23.85 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 9.82 as of the last full trading day while the dividend yield was 3.8 percent. ** So far this week, the market capitalisation of the Hang Seng index has fallen by 1.07 percent to HK$16.44 trillion. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 0.38 percent on the day at 5,523.65 points. (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips)

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