Hong Kong shares end lower as U.S. bill on China tech threat weighs

China Mengniu Dairy

09/06/2021 09:40

* HSI -0.1%, HSCE -0.2%, CSI300 +0.1%
    * U.S. Senate passes sweeping bill to address China tech
threat
    * China May PPI +9% y/y, fastest pace in over 12 years 

    BEIJING, June 9 (Reuters) - Hong Kong shares closed lower on
Wednesday, dragged by tech firms after U.S. Senator passed a
package of laws aimed at boosting its ability to take on Chinese
technology.
    
** The Hang Seng index  .HSI  ended down 38.75 points or 0.13%
at 28,742.63. The Hang Seng China Enterprises index  .HSCE  fell
0.23% to 10,704.75.
    
** The IT sector  .HSCIIT  dipped 0.48%, the financial sector
 .HSNF  ended 0.45% lower, while the sub-index of the Hang Seng
tracking energy shares  .HSCIE  rose 2.1% and the property
sector added 0.93%.
    
** The biggest loser on the Hang Seng was Alibaba Health
Information Technology Ltd  0241.HK , which fell 2.48%.
    
** China's main Shanghai Composite index  .SSEC  closed up 0.32%
at 3,591.40, while the blue-chip CSI300 index  .CSI300  ended up
0.08%.
    
** The U.S. Senate voted 68-32 on Tuesday to approve a sweeping
package of legislation intended to boost the country's ability
to compete with Chinese technology.  urn:newsml:reuters.com:*:nL2N2NQ302
    
** The Chinese foreign ministry on Wednesday urged the United
States to stop promoting such laws and to stop depicting China
as a threat.  urn:newsml:reuters.com:*:nB9N2MK021
    
** China's factory gate prices rose at their fastest annual pace
in over 12 years in May, driven by surging commodity prices,
adding to global price pressures at a time when policymakers are
trying to revitalise growth following the COVID-19-induced
slump.  urn:newsml:reuters.com:*:nL3N2NP2DL
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.35%, while Japan's Nikkei index
 .N225  closed down 0.35%.
    
** The yuan  CNY=CFXS  was quoted at 6.3924 per U.S. dollar at
0816 GMT, up 0.13%.

 (Reporting by Beijing Newsroom; editing by Uttaresh.V)
 ((zoey.zhang@thomsonreuters.com))