Hong Kong stocks slip, but mainland rally checks losses

China Resources Gas

20/07/2020 10:01

* HK->Shanghai Connect daily quota used 6.8%, Shanghai->HK
daily
quota used 8.2%
    * HSI -0.1%, HSCE +0.9%, CSI300 +3.0%
    * FTSE China A50 +2.5%

    July 20 (Reuters) - Hong Kong stocks fell on Monday but
recouped much of their losses, helped by robust gains on the
mainland as Beijing signalled support for its market. 
    ** At the close of trade, the Hang Seng index  .HSI  was
down 31.18 points, or 0.12%, at 25,057.99 after falling as much
as 1.3%, while the Hang Seng China Enterprises index  .HSCE ,
which tracks mainland firms listed in Hong Kong, added 0.9% to
10,295.32.
    ** The top gainer on the Hang Seng was China Life Insurance
Co Ltd  2628.HK , which gained 8.32%, while the biggest loser
was Wharf Real Estate Investment Company Ltd  1997.HK , which
fell 5.86%.
    ** Leading the gains, Hang Seng materials index  .HSCIM 
jumped 4.7%, while properties and construction index  .HSCIPC 
ended 1.9% higher. 
    ** China stocks rose 3% on Monday, led by financial firms,
after regulators moved to bolster the market by lifting equity
investment cap for insurers and encouraging mergers and
acquisitions among brokerages and mutual fund houses. 
 urn:newsml:reuters.com:*:nAZN00KQCW 
    ** Mainland investors purchased a net 6 billion yuan 
($858.42 million) worth of Hong Kong shares on Monday via the
Stock Connect linking the island and mainland, according to
Refinitiv data. 
    ** Britain will suspend its extradition treaty with Hong
Kong on Monday in an escalation of its dispute with China over
its introduction of a national security law for the former
British colony, newspapers reported.  urn:newsml:reuters.com:*:nL5N2EQ068
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.17%, while Japan's Nikkei index
 .N225  closed 0.09% higher.
    ** The yuan  CNY=CFXS  was quoted at 6.9904 per U.S. dollar
at 07:49 GMT, 0.02% firmer than the previous close of 6.9915. 
    ** At close, China's A-shares were trading at a premium of
33.55% over Hong Kong-listed H-shares. 

($1 = 6.9896 Chinese yuan renminbi)

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