June 21, 2018 / 8:24 AM / a month ago

HK stocks hit six-month closing low as trade war fears persist

* Hang Seng index ends down 1.3 pct

* China Enterprises index HSCE falls 1.2 percent

* HSI financial sector sub-index is 1.4 percent lower; property sector down 1.2 percent

June 21 (Reuters) - Hong Kong stocks ended at a six-month low on Thursday, as China-U.S. trade conflict fears curbed risk appetite.

** The Hang Seng index ended 1.4 percent lower at 29,296.05, while the China Enterprises Index closed lower by 1.2 percent at 11,364.66 points.

** “Sino-U.S. trade tensions could further escalate,” said Gao Ting, Head of China Strategy, UBS Securities. “While the macro impact would likely be limited, the negotiation path is hard to predict, which could have a long-term negative impact on production and investment activities.” ** The sub-index of the Hang Seng tracking energy shares dipped 1.5 percent, while the IT sector slipped 0.86 percent, the financial sector closed 1.36 percent lower and property sector lost 1.2 percent. ** The top gainer on Hang Seng was Country Garden Services Holdings Company Ltd, which ended 15.3 percent higher, while the biggest loser was Sunny Optical Technology Group Co Ltd, which closed 8.91 percent down. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.67 percent, while Japan’s Nikkei index closed up 0.61 percent. ** The yuan was quoted at 6.5032 per U.S. dollar at 0810 GMT, 0.44 percent weaker than the previous close of 6.475. ** As of previous trading session, the Hang Seng index lost 0.75 percent this year, while China’s H-share index was down 1.7 percent. As of previous close, the Hang Seng lost 2.54 percent this month. ** The top gainers among H-shares were Anhui Conch Cement Co Ltd , which closed up 2.3 percent, followed by China Gas Holdings Ltd, which ended 1.6 percent higher and China Railway Group Ltd, which closed 1.32 percent higher. ** The three biggest H-shares percentage decliners were CITIC Securities Co Ltd, which closed down 5.01 percent, China Galaxy Securities Co Ltd, which ended 3.4 percent lower and CNOOC Ltd, which ended 3.4 percent down. ** About 2.09 billion Hang Seng index shares were traded, roughly 111.9 percent of the market’s 30-day moving average of 1.87 billion shares a day. The volume traded in the previous trading session was 2.30 billion. ** At close, China’s A-shares were trading at a premium of 20.64 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 11.66 as of the last full trading day, while the dividend yield was 3.2 percent. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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