August 10, 2018 / 8:49 AM / 8 days ago

Hong Kong stocks end lower on renewed trade war friction

SHANGHAI, Aug 10 (Reuters) - Hong Kong shares finished lower on Friday, in line with their Asian peers, pulled down by mounting global trade war tensions. ** The Hang Seng index ended down 240.68 points or 0.84 percent at 28,366.62 points. The Hang Seng China Enterprises index dropped 0.7 percent to 10,943.08 points. ** The sub-index of the Hang Seng tracking energy shares ended 1.6 percent lower, while the IT sector closed down 0.51 percent, the financial sector finished 0.96 percent lower and property sector ended 0.2 percent down. ** The top gainer on Hang Seng was China Overseas Land & Investment Ltd up 2.59 percent, while the biggest loser was Hang Seng Bank Ltd, which closed down 3.42 percent. ** China’s main Shanghai Composite index closed flat, while its blue-chip CSI300 index ended up 0.22 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1 percent, while Japan’s Nikkei index closed 1.33 percent down. ** The yuan was quoted at 6.8565 per U.S. dollar at 0816 GMT, 0.56 percent weaker than the previous close of 6.818. ** As of previous trading session, the Hang Seng index slipped 4.38 percent this year, while China’s H-share index was down 5.9 percent. As of previous close, the Hang Seng gained 0.08 percent this month. ** The top gainers among H-shares were Byd Co Ltd, which ended up 4.88 percent, followed by ZhongAn Online P & C Insurance Co Ltd, which closed 2.6 percent higher and China Vanke Co Ltd, which ended 2.04 percent firmer. ** The three biggest H-shares percentage decliners were Huaneng Power International Inc, which closed down 3.28 percent, Air China Ltd, which ended 2.6 percent lower and China Petroleum & Chemical Corp, which closed down 2.2 percent. ** About 1.32 billion Hang Seng index shares were traded, roughly 75.2 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 1.49 billion. ** At close, China’s A-shares were trading at a premium of 16.64 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.98 as of the last full trading day, while the dividend yield was 3.3 percent. ** So far this week, the market capitalisation of the Hang Seng index rose 3.55 percent to HK$18.57 trillion. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the pay-off of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, climbed 0.84 percent to 4,983.85 points. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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