February 29, 2016 / 8:10 AM / 3 months ago

Hong Kong stocks fall after Moody's downgrade

* HK->Shanghai Connect daily quota used -0.6%, Shanghai->HK daily quota used 0.1%

* HSI -1.2%, HSCE -1.2%, CSI300 -1.7%

* FTSE China A50 -1.4%

Sept 17 (Reuters) - Hong Kong stocks fell on Tuesday after credit rating agency Moody’s downgraded the island city’s outlook.

** The Hang Seng index fell 1.2%, to 26,790.24, while the China Enterprises Index lost 1.2%, to 10,502.37. Both indexes declined for a second straight session.

** Moody’s changed its outlook on Hong Kong’s rating to negative from stable on Monday, reflecting what it called the rising risk of “an erosion in the strength of Hong Kong’s institutions” amid ongoing protests.

** Hong Kong’s leader, Carrie Lam, said on Tuesday she and her team would begin dialogue sessions with the community next week, while reiterating that violence that has roiled the city over three months of protests must end.

** China’s central bank partially rolled over loans from its one-year liquidity facility on Tuesday but kept the lending rate unchanged, a sign it is willing to maintain adequate credit to support a slowing economy but wary of excessive stimulus.

** The U.S. Federal Reserve is widely expected to cut rates later this week, following renewed quantitative easing by the European Central Bank.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.68%, while Japan’s Nikkei index closed up 0.06%.

** The yuan was quoted at 7.0909 per U.S. dollar at 08:14 GMT, 0.32% weaker than the previous close of 7.0685.

** The top gainers among H-shares were ENN Energy Holdings Ltd up 3.37%, followed by SINOPHARM GROUP CO LTD , gaining 1.46%, and ANTA Sports Products Ltd , up by 1.04%.

** The three biggest H-shares percentage decliners were Haitong Securities Co Ltd, which was down 3.75%, China Petroleum & Chemical Corp, which fell 3.57%, and Geely Automobile Holdings Ltd, down by 3.22%.

** At close, China’s A-shares were trading at a premium of 28.09% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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