Hong Kong shares rise, post biggest weekly fall in 2 months on subdued China stocks

China Taiping Insurance Holdings

17/07/2020 09:54

* HK->Shanghai Connect daily quota used 2.8%, Shanghai->HK
daily
quota used 2.8%
    * HSI +0.5%, HSCE +0.7%, CSI300 +0.6%
    * FTSE China A50 +1.0%

    SHANGHAI, July 17 (Reuters) - Hong Kong stocks ended higher
on Friday but posted their worst weekly decline in nearly two
months, weighed down by a sharp correction on the mainland,
where better-than-expected GDP data fuelled worries over the
pace of policy easing.
    ** At the close of trade, the Hang Seng index  .HSI  was up
0.47% at 25,089.17. The Hang Seng China Enterprises index
 .HSCE  rose 0.69% to 10,203.57.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.2%, while the IT sector  .HSCIIT  rose 2.09%,
the financial sector  .HSNF  ended 0.02% higher and the property
sector dipped 0.51%.
    ** For the week, HSI fell 2.5%, its biggest weekly drop
since May 22, while HSCE retreated 3.2%, its steepest since
March 20. 
    ** Shanghai shares suffered their worst weekly drop in five
months, as China's better-than-expected GDP data fuelled worries
over the pace of policy easing, while foreign investors cashed
in after a bull run.  urn:newsml:reuters.com:*:nAZN00KH3X 
    ** "The pace of policy loosening will be slower, as
policymakers observe how the job and financial markets perform
and decide what steps to take next," said Zhaopeng Xing, market
economist at ANZ, Shanghai.   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.63%, while Japan's Nikkei index
 .N225  closed down 0.32%.
    ** The yuan  CNY=CFXS  was quoted at 7.0002 per U.S. dollar
at 0829 GMT, 0.16% weaker than the previous close of 6.9891. 
    ** At close, China's A-shares were trading at a premium of
31.23% over Hong Kong-listed H-shares.

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