July 17, 2018 / 8:26 AM / a year ago

Hong Kong stocks fall, energy shares weigh

* Hang Seng index ends down 1.3 pct

* China Enterprises index HSCE falls 1.1 pct

* HSI financial sector sub-index 1 pct lower; property sector down 1.1 pct

SHANGHAI, July 17 (Reuters) - Hong Kong stocks ended lower on Tuesday, dragged by energy firms following a sharp decline in crude oil prices. ** The Hang Seng index fell 1.3 percent, to 28,181.68 points, while the China Enterprises Index lost 1.1 percent, to 10,591.72 points. ** Sectors fell across the board, led by energy which closed down 1.8 percent. ** Oil prices fell for a second day as worries about possible disruptions to supply eased and as investors focused on potential damage to global growth from the festering Sino-U.S. trade spat. Brent crude futures fell 32 cents, or 0.5 percent, to $71.52 a barrel by 0638 GMT, the lowest since April 17. They fell 4.6 percent on Monday. ** There were also worries over China’s economy amid trade war with the United States. ** The International Monetary Fund (IMF) on Monday warned that escalating and sustained trade conflicts following U.S. tariff actions threatened to derail economic recovery and depress medium-term growth prospects. ** China said it’s still confident of hitting its economic growth target of around 6.5 percent this year despite views that it faces a bumpy second half as a trade row with the United States intensifies. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.39 percent, while Japan’s Nikkei index closed up 0.44 percent. ** The yuan was quoted at 6.6762 per U.S. dollar at 08:11 GMT, 0.24 percent firmer than the previous close of 6.6924. ** As of the previous trading session, the Hang Seng index was down 4.61 percent this year, while China’s H-share index was down 8.6 percent. As of the previous close, the Hang Seng has declined 1.43 percent this month. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd, up 3.55 percent, followed by New China Life Insurance Co Ltd, gaining 1.1 percent, and Guangdong Investment Ltd, up by 1.03 percent. ** The three biggest H-shares percentage decliners were Hengan International Group Company Ltd, which was down 4.21 percent, CSPC Pharmaceutical Group Ltd, which fell 3.7 percent, and CNOOC Ltd down by 3.4 percent. ** About 1.75 billion Hang Seng index shares were traded, roughly 89.2 percent of the market’s 30-day moving average of 1.97 billion shares a day. The volume traded in the previous trading session was 1.28 billion. ** At close, China’s A-shares were trading at a premium of 19.28 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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