Hong Kong stocks drop near 2% as financials weigh

China Feihe

03/05/2021 06:07

* Hang Seng index falls 1.48%
    * China Enterprises index HSCE drops 1.28% 
    * HSI financial sub-index sinks 2.1%; property sector down
1%

    HONG KONG, May 3 (Reuters) - Hong Kong stocks fell on
Monday, with financials leading the slide, as investors locked
in gains after a recent rally, while many kept to the sidelines
as China markets remain closed.
    ** By lunch break, the Hang Seng index  .HSI  was down
424.36 points, or 1.48%, at 28,300.52. The Hang Seng China
Enterprises index  .HSCE  fell 1.28% to 10,686.87.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  slid 0.4%, while the IT sector  .HSCIIT  dipped 0.94%,
the financial sector  .HSNF  fell 2.11% and the property sector
was down 1.04%.
    ** China's stock and bond markets, as well as its foreign
exchange and commodity futures markets, are closed on May 1-5
for the Labour Day holiday. Trade will resume on May 6.
    ** The top gainer on the Hang Seng was China Petroleum &
Chemical Corp  0386.HK , which gained 0.52%, while the biggest
loser was HSBC Holdings PLC  0005.HK , which fell 3.38% after a
9% jump last week.    
    ** AIA  1299.HK  fell 2.6%, Ping An  2318.HK  dropped 2.4%
and China Life was down 2.3% 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.6% 
    ** The top gainers among H-shares were Anhui Conch Cement Co
Ltd  0914.HK  up 1.29%, followed by Postal Savings Bank of China
Co Ltd  1658.HK , gaining 1.19% and Hansoh Pharmaceutical Group
Company Ltd  3692.HK , up by 0.75%.
    ** The three biggest H-shares percentage decliners were
Kuaishou Technology  1024.HK , which dropped 3.57%, China Feihe
Ltd  6186.HK , which fell 3.39% and Alibaba Health Information
Technology Ltd  0241.HK , was down 2.53%.
 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com; +852 3952 5874; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))