Hong Kong stocks down for fourth day on lingering protest worries
- The Hang Seng index fell 1.1%, to 26,468.95, while the China Enterprises Index lost 0.9%, to 10,385.35.
- Hong Kong stocks posted a fourth consecutive losing session on Thursday.
- Eyes were also on the development of Sino-U.S. trade talks.
Hong Kong stocks posted a fourth consecutive losing session on Thursday on lingering worries over political protests even as the island city followed suit after the U.S. Federal Reserve cut rates.
** The Hang Seng index fell 1.1%, to 26,468.95, while the China Enterprises Index lost 0.9%, to 10,385.35.
** Hong Kong's Jockey Club cancelled all races planned for Wednesday after pro-democracy protesters said they would target the Happy Valley racecourse where a horse part-owned by a pro-China lawmaker was due to run.
** The Hong Kong Monetary Authority's move to cut interest rates for the second time this year following the Fed's decision overnight provided little support to the market.
** Market participants are watching closely to see if and to what extent China will lower its new lending reference rate on Friday following the Fed's move.
** Eyes were also on the development of Sino-U.S. trade talks.
** U.S. and Chinese deputy trade negotiators were set to resume face-to-face talks on Thursday for the first time in nearly two months as the world's two largest economies try to bridge deep policy differences and find a way out of a bitter and protracted trade war.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.45%, while Japan's Nikkei index closed up 0.38%.
** The yuan was quoted at 7.0975 per U.S. dollar at 0816 GMT, 0.15% weaker than the previous close of 7.087.
** The top gainers among H-shares were Shenzhou International Group Holdings Ltd up 1.4%, ENN Energy Holdings Ltd up 1.32% and CSPC Pharmaceutical Group Ltd up by 1.31%.
** The three biggest H-shares percentage decliners were China Resources Beer Holdings Co Ltd down 2.80%, China Vanke Co Ltd down 2.28% and PetroChina Co Ltd down 2.12%.
** At the close, China's A-shares were trading at a premium of 29.57% over Hong Kong-listed H-shares.
Comments
Comments are closed.