Hong Kong stocks fall as materials, property sectors drag

China Resources Beer Holdings

19/11/2020 08:48

* HK->Shanghai Connect daily quota used 4.4%, Shanghai->HK
daily
quota used 6.3%
    * HSI -0.7%, HSCE -0.8%, CSI300 +0.7%
    * FTSE China A50 +1.1%

    Nov 19 (Reuters) - Hong Kong stocks ended lower on Thursday,
pressured by the materials and property sectors, but stronger
consumer firms capped losses after news of Beijing's pledge to
boost domestic consumption to salvage a pandemic-ravaged
economy.
    ** At the close of trade, the Hang Seng index  .HSI  was
down 187.32 points, or 0.71%, at 26,356.97. The Hang Seng China
Enterprises index  .HSCE  fell 0.8% to 10,555.36.
    ** The Hang Seng materials index  .HSCIM  declined 1.5%
while the properties and construction sector  .HSCIPC  lost
1.1%.
    ** The subindex of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.5%, while the IT sector  .HSCIIT  dropped
1.61%. The financial sector  .HSNF  ended 1% lower.
    ** The top gainer on the Hang Seng was Xiaomi Corp
 1810.HK , which added 5%, while the biggest loser was Tencent
Holdings Ltd  0700.HK , down 2.72%. 
    ** Still, gains in consumer stocks limited losses, with the
Hang Seng consumer staples index  .HSCICS  and consumer
discretionary index  .HSCICD  closing 1.2% and 1% higher,
respectively. 
    ** China will expand consumption of cars and consumption in
rural areas, according to a report by state broadcaster CCTV,
citing a meeting of the country's cabinet chaired by Premier Li
Keqiang.  urn:newsml:reuters.com:*:nB9N2HA000 
    ** China will also promote the consumption of home
appliances and catering, CCTV reported.
    ** China's main Shanghai Composite index  .SSEC  closed
0.47% higher at 3,363.09 points, while the blue-chip CSI300
index  .CSI300  ended up 0.74%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.51%, while Japan's Nikkei index
 .N225  closed down 0.36%.
    ** The yuan  CNY=CFXS  was quoted at 6.58 per U.S. dollar at
0811 GMT, 0.32% weaker than the previous close of 6.559. 
    ** At close, China's A-shares were trading at a premium of
41.50% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom; Editing by Devika
Syamnath)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))