HK stocks slip on reports of potential U.S. restrictions on Tencent

China Resources Beer Holdings

08/10/2020 06:13

* Hang Seng index slides 0.78%
    * China Enterprises index HSCE eases 0.69% 
    * Property sector falls 1.2%, Hang Seng Tech Index down
0.56% 

    HONG KONG, Oct 8 (Reuters) - Hong Kong shares slid on
Thursday on news that Washington might impose restrictions on
Tencent Holdings  0700.HK  over concerns that the payment
platform threatens its national security, while the market
showed scant reaction to potential U.S. stimulus.
    ** According to a Bloomberg News report, the United States
is considering restrictions on Alibaba-backed Ant Group as well.
     urn:newsml:reuters.com:*:nL1N2GZ011  
    ** Such a move would mark a new deterioration in relations
between the world's two largest economies, which have been
stained by disputes over trade, Hong Kong's autonomy, cyber
security and the spread of the novel coronavirus.    
    ** By midday, the Hang Seng index  .HSI  was down 189.12
points, or 0.78%, at 24,053.74, on track to snap four straight
sessions of gains.
    ** China's H-shares index  .HSCE  slid 0.69% to 9,562.76. 
    ** The sub-index of Hang Seng tracking property fell 1.2%,
and the energy index  .HSCIE  declined 1.07%. IT sector
 .HSCIIT  slid 0.9%, Hang Seng Tech Index  .HSTECH  eased 0.56%,
and the financial sector  .HSNF  edged down 0.33%. 
    ** Sunny Optical  2382.HK , which gained 2.31%, was the top
gainer in the Hang Seng, while Xiaomi Corp  1810.HK  was the top
drag with a 4.84% drop. 
    ** Chinese markets are closed for holidays until Oct. 9.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.83%, while Japan's Nikkei index
 .N225  was up 0.96%.
    ** The top gainers among H-shares were Sunny Optical,
followed by China Conch Venture  0586.HK , which was up 0.98%,
and Fosun International  0656.HK , which gained 0.89%.
    ** The three biggest H-shares percentage decliners were
Xiaomi, followed by China Resources Beer  0291.HK , which fell
2.75%, and China Unicom  0762.HK , which was down 2.52%.
  

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