HK stocks end lower as China sees soft growth in bank loans

China Taiping Insurance Holdings

12/11/2020 08:49

* HK->Shanghai Connect daily quota used -1.5%, Shanghai->HK
daily
quota used 2.3%
    * HSI -0.2%, HSCE +0.4%, CSI300 +0.1%
    * FTSE China A50 -0.4%

    Nov 12 (Reuters) - Hong Kong stocks ended lower on Thursday,
after data showed that new bank loans in China last month fell
more than expected to their lowest in a year on tightened loan
quotas.         
    
    ** At the close of trade, the Hang Seng index  .HSI  was
down 67.34 points or 0.26% at 26,122.52. The Hang Seng China
Enterprises index  .HSCE  rose 0.31% to 10,569.52.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  fell 1%, while the IT sector  .HSCIIT  rose 4.53%, the
financial sector  .HSNF  ended 1.69% lower and the property
sector closed 2.43% weaker.
    ** The top gainer in the Hang Seng was Geely Automobile
Holdings Ltd  0175.HK , which gained 6.29%, while the biggest
laggard was AIA Group Ltd  1299.HK  after closing 3.79% lower. 
    ** Lenders issued 689.8 billion yuan ($104.22 billion) in
new yuan loans last month, data from the People's Bank of China
(PBOC) showed, down from 1.9 trillion yuan in September and well
short of analysts' expectations for 800 billion yuan.  
 urn:newsml:reuters.com:*:nL1N2HY00A 
    ** Hong Kong-listed tech giants rebounded from a sharp
decline on Wednesday after China published draft rules aimed at
preventing monopolistic behaviour by internet platforms, setting
the city's benchmark technology index for its worst session in
four months.  urn:newsml:reuters.com:*:nL4N2HX1IX 
    ** China's latest policy has a relatively big impact on
HK-listed new economy and tech stocks, Guodu Hong Kong noted in
a report, adding that the market focus will return to old
economy firms. 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.23%, while Japan's Nikkei index
 .N225  closed up 0.68%.
    ** The yuan  CNY=CFXS  was quoted at 6.6291 per U.S. dollar
at 0802 GMT, 0.01% firmer than the previous close of 6.63. 
    ** At close, China's A-shares were trading at a premium of
38.70% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))