June 15, 2018 / 8:45 AM / a month ago

HK stocks post biggest weekly drop in 2-1/2 months on trade tensions

* Hang Seng index ends down 0.4 pct

* China Enterprises index HSCE falls 0.7 pct

* HSI financial sector sub-index flat; property sector up 0.2 pct

June 15 (Reuters) - Hong Kong stocks fell on Friday and posted their biggest weekly drop in two-and-a-half months as Washington looked set to unveil a tariff list targeting $50 billion Chinese goods, and Beijing vowed to retaliate, putting investors on edge.

** The Hang Seng index fell 0.4 percent, to 30,309.49, while the China Enterprises Index lost 0.7 percent, to 11,870.18 points.

** For the week, Hang Seng fell 2.1 percent, the biggest drop since the week ended March 23, while HSCE dropped 2.4 percent.

** China vowed on Friday to strike back quickly if the United States hurts its interests, hours before U.S. President Donald Trump was due to unveil revisions to a tariff list targeting $50 billion worth of Chinese goods.

** The sub-index of the Hang Seng tracking energy shares dipped 0.9 percent while the IT sector dipped 0.5 percent , the financial sector was 0.47 percent lower and property sector rose 0.2 percent. ** The top gainer on Hang Seng was Wharf Real Estate Investment Company Ltd up 2.27 percent, while the biggest loser was China Resources Power Holdings Co Ltd which was down 3.09 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.44 percent while Japan’s Nikkei index closed up 0.5 percent. ** The yuan was quoted at 6.4159 per U.S. dollar at 08:22 GMT, 0.24 percent weaker than the previous close of 6.4005. ** The top gainers among H-shares were ZhongAn Online P & C Insurance Co Ltd up 2.84 percent, followed by Shenzhou International Group Holdings Ltd gaining 1.95 percent and Sinopharm Group Co Ltd up by 1.04 percent. ** The three biggest H-shares percentage decliners were CITIC Securities Co Ltd which was down 5.19 percent, Huaneng Power International Inc which fell 3.8 percent and Great Wall Motor Co Ltd down by 3.3 percent. ** About 2.41 billion Hang Seng index shares were traded, roughly 133.8 percent of the market’s 30-day moving average of 1.80 billion shares a day. The volume traded in the previous trading session was 2.19 billion. ** At close, China’s A-shares were trading at a premium of 21.13 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Amrutha Gayathri)

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