Hong Kong stocks end week lower on Sino-U.S. tensions

China Resources Gas

12/03/2021 08:53

* HK->Shanghai Connect daily quota used 5.3%, Shanghai->HK
daily
quota used 2.1%
    * HSI -2.2%, HSCE -1.5%, CSI300 +0.4%
    * FTSE China A50 +0.4%

    March 12 (Reuters) - Hong Kong stocks fell on Friday to post
weekly losses, weighed down by weakness in tech firms on worries
about the latest Sino-U.S. tensions. 
    ** The Hang Seng index  .HSI  fell 2.2%, to 28,739.72, while
the China Enterprises Index  .HSCE  lost 1.5%, to 11,172.95
points.   
    ** The United States on Thursday condemned Chinese moves to
change Hong Kong's electoral system and forecast "difficult"
talks with Beijing's top diplomats next week.  urn:newsml:reuters.com:*:nL1N2L92MF 
    ** China again warned the United States to stop interfering
in its affairs, including Hong Kong, a foreign ministry
spokesman said on Friday. urn:newsml:reuters.com:*:nB9N2JG02I 
    ** Shares of Huawei suppliers retreated as the U.S.
administration added new limits on those companies.  urn:newsml:reuters.com:*:nL1N2LA051
 
    ** The Hang Seng tech index  .HSTECH , which is sensitive to
the developments of Sino-U.S. relations, closed down 2.1%,
having lost 23% from an all-time high hit just three weeks ago. 
    ** Gaming giant Tencent Holdings  0700.HK  fell 4.4% on
Friday. 
    ** Chinese Premier Li Keqiang defended the government's
target for more than 6% economic growth this year, saying it was
"not low", and policies would not be dramatically loosened to
chase higher growth.  urn:newsml:reuters.com:*:nL1N2L90MD  
    ** A lower economic growth target gives China room to rein
in frothiness in the market even as inflation fears grow,
analysts said.  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.29%, while Japan's Nikkei index
 .N225  closed up 1.73%.
    ** The yuan  CNY=CFXS  was quoted at 6.505 per U.S. dollar
at 08:24 GMT, 0.16% weaker than the previous close of 6.4945. 
    ** At close, China's A-shares were trading at a premium of
33.91% over Hong Kong-listed H-shares.

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