Hong Kong stocks end over 1% lower as financials, Mengniu weigh

China Mengniu Dairy

03/05/2021 09:45

* Hang Seng index ends down 1.28%
    * China Enterprises index HSCE falls 1.04% 
    * HSI financial sub-index is down 2%; property sector slips
0.6%

    HONG KONG, May 3 (Reuters) - Hong Kong stocks fell on
Monday, due to profit-booking after a recent rally in subdued
trading as the Chinese markets were closed for holidays, while
rising COVID-19 cases in the region raised concerns of more
measures and deeper economic pain.
    ** The Hang Seng index  .HSI  closed down 367.34 points, or
1.28%, at 28,357.54, its lowest closing since March 29. The Hang
Seng China Enterprises index  .HSCE  fell 1.04% to 10,713.
    ** After identifying a cluster of COVID-19 cases over the
weekend, Singapore tightened social distancing controls.
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    ** The Hong Kong Monetary Authority, the key manager of Hong
Kong's Exchange Fund, said slow vaccination take up in the city
could hinder its competitiveness as a business centre.
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    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.1%, while IT  .HSCIIT , financials  .HSNF  and
property  .HSNP  sectors ended 0.53%, 2.04% and 0.57% lower,
respectively. 
    ** 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. 
    ** "Investors were not even interested in hunting for
bargain when markets like Japan and China were on holiday," said
Steven Leung, a sales director at UOB Kay Hian, adding, concern
over further measures from China's regulators aiming at new
economy stocks also kept investors away.
    ** The top gainer on the Hang Seng was China Petroleum &
Chemical Corp  0386.HK , up 1.29%, while the biggest loser was
China Mengniu Dairy Co Ltd  2319.HK , dropping 3.49%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.73%  
    ** The top gainers among H-shares were Anhui Conch Cement Co
Ltd  0914.HK  up 1.94%, followed by Hansoh Pharmaceutical Group
Company Ltd  3692.HK , gaining 1.49% and  Postal Savings Bank of
China Co Ltd  1658.HK , up by 1.38%.
    ** The three biggest H-shares percentage decliners were
China Mengniu Dairy Co Ltd  2319.HK , down 3.49%, China Feihe
Ltd  6186.HK , falling 2.93% and Alibaba Health Information
Technology Ltd  0241.HK , down 2.53%.
 

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