Hong Kong stocks end week lower on Sino-U.S. tensions, tightening concerns
09/04/2021 09:40
* HK->Shanghai Connect daily quota used -1.2%, Shanghai->HK daily quota used
0.3%
* HSI -1.1%, HSCE -1.2%, CSI300 -1.5%
* FTSE China A50 -1.8%
April 9 (Reuters) - Hong Kong stocks closed lower on Friday to log weekly
losses, as robust China inflation data raised investor concerns over policy
tightening, while Sino-U.S. tensions also weighed on the market.
** At the close of trade, the Hang Seng index .HSI was down 309.27 points,
or 1.07%, at 28,698.80. The Hang Seng China Enterprises index .HSCE fell 1.19%
to 10,977.37.
** For the week, HSI shed 0.8%, while HSCE lost 2.1%.
** China's factory gate prices in March rose at their fastest annual pace
since July 2018, official data showed on Friday, as growth in the world's
second-largest economy continued to gather momentum. urn:newsml:reuters.com:*:nL1N2M2020
** Recent economic data has been robust, but analysts warn that it could
lead to concerns of inflation and policy tightening. urn:newsml:reuters.com:*:nL4N2LZ0R0
** Sino-U.S. tensions remained a drag for the market.
** Leaders of the U.S. Senate Foreign Relations Committee introduced major
legislation on Thursday to boost the country's ability to push back against
China's expanding global influence by promoting human rights, providing security
aid and investing to combat disinformation. urn:newsml:reuters.com:*:nL1N2M113C
** The U.S. Commerce Department said on Thursday that it was adding seven
Chinese supercomputing entities to a U.S. economic blacklist for assisting
Chinese military efforts. urn:newsml:reuters.com:*:nL1N2M1163
** There are still many uncertainties in the market, and investors need to
pay attention to the second round of high-level Sino-U.S. talks held in April,
Guodu Hong Kong noted in a report.
** The Hang Seng index would remain rangebound around the 29,000-point level
for now, the brokerage added.
** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was
weaker by 0.68%, while Japan's Nikkei index .N225 closed up 0.2%.
** The yuan CNY=CFXS was quoted at 6.5585 per U.S. dollar at 08:15 GMT,
0.11% weaker than the previous close of 6.5516.
** At close, China's A-shares were trading at a premium of 33.14% over Hong
Kong-listed H-shares.
(Reporting by the Shanghai Newsroom; Editing by Shailesh Kuber)
((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))