May 17, 2018 / 8:52 AM / 5 days ago

HK's Hang Seng falls as trade China-U.S. talks resume; Tencent gains

* HK->Shanghai Connect daily quota used 2.6 pct, Shanghai->HK daily quota used -0.7 pct

* HSI -0.5 pct, HSCE -1.3 pct, CSI300 -0.7 pct

* FTSE China A50 -0.7 pct, BNY Mellon ADR China Select Index +0.5 pct

May 17 (Reuters) - Hong Kong’s benchmark stock index fell on Thursday, despite a jump in index heavyweight Tencent Holdings , as U.S. and China resumed trade talks in Washington. ** The Hang Seng index fell 0.5 percent, to 30,942.15, while the China Enterprises Index lost 1.3 percent, to 12,278.43 points.

** Investors turned cautious as the United States and China resumed trade talks on Thursday in a bid to avert a damaging tariff war, with the White House’s harshest China critic relegated to a supporting role, senior Trump administration officials said on Wednesday.

** The sub-index of the Hang Seng, tracking energy shares , dipped 0.9 percent while the IT sector rose 2.95 percent, the financial sector was 1.26 percent lower and property sector dipped 0.97 percent . ** The top gainer on Hang Seng was Tencent Holdings Ltd , up 3.74 percent, while the biggest loser was WH Group Ltd, down 2.15 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.32 percent while Japan’s Nikkei index closed up 0.53 percent. ** The yuan was quoted at 6.368 per U.S. dollar at 08:39 GMT, 0.04 percent firmer than the previous close of 6.3705. ** As of the previous trading session, the Hang Seng index was up 3.98 percent this year, while China’s H-share index was up 6.2 percent. As of the previous close, the Hang Seng has risen 0.98 percent this month. ** The top gainers among H-shares included CSPC Pharmaceutical Group Ltd, up 2.41 percent, and Hengan International Group Company Ltd, up 1.52 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd, down 3.42 percent, Air China Ltd, down 2.9 percent and Huatai Securities Co Ltd, down 2.4 percent. ** About 1.55 billion Hang Seng index shares were traded, roughly 92.7 percent of the market’s 30-day moving average of 1.67 billion shares a day. The volume in the previous session was 1.39 billion. ** At close, China’s A-shares were trading at a premium of 20.73 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.45 as of the last full trading day while the dividend yield was 3.1 percent. (Reporting by the Shanghai Newsroom)

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