Hong Kong stocks post biggest weekly drop in 6 months on renewed virus woes
25/09/2020 09:54
* HK->Shanghai Connect daily quota used -0.4%, Shanghai->HK
daily
quota used 1.5%
* HSI -0.3%, HSCE -0.7%, CSI300 +0.2%
* FTSE China A50 +0.2%
Sept 25 (Reuters) - Hong Kong stocks ended lower on Friday,
posting their biggest weekly drop in six months, tracking a
global correction as a resurgence in coronavirus cases globally
raised concerns about the pace of economic recovery.
** At the close of trade, the Hang Seng index .HSI was
down 75.65 points, or 0.32%, at 23,235.42. The Hang Seng China
Enterprises index .HSCE fell 0.73% to 9,302.59.
** For the week, HSI slumped 5%, while HSCE shed 5.1%, both
posting steepest daily drop since the week ended March 20.
** The sub-index of the Hang Seng tracking energy shares
.HSCIE dipped 0.1%, while the IT sector .HSCIIT dipped
1.29%, the financial sector .HSNF ended 0.19% lower and the
property sector .HSNP dipped 1.04%.
** The top gainer on the Hang Seng was CLP Holdings Ltd
0002.HK , which gained 2.15%, while the biggest loser was
Country Garden Holdings Co Ltd 2007.HK , which fell 3.87%.
** The Hang Seng index could remain sluggish in the short
term as new listings drew liquidity and investors turned
cautious ahead of China's week-long National Day Holiday
starting Oct. 1, Guodu Hong Kong said in report.
** Tech players weighed on the market, with the Hang Seng
tech index .HSTECH retreating 6.1% for the week.
** Britain recorded its highest number of daily COVID-19
cases on Thursday, reflecting a second wave of the virus hitting
the country, while Mexico is close to surpassing 75,000
confirmed coronavirus deaths. urn:newsml:reuters.com:*:nL8N2C60GZ urn:newsml:reuters.com:*:nL2N2GM02L
** Investors sold off China Evergrande Group 3333.HK
shares and bonds, after a leaked document showed the nation's
second-biggest property developer by sales sought government
help to avert a cash crunch. urn:newsml:reuters.com:*:nL3N2GM12P
** Around the region, MSCI's Asia ex-Japan stock index
.MIAPJ0000PUS was weaker by 2.15%, while Japan's Nikkei index
.N225 closed up 0.51%.
** The yuan CNY=CFXS was quoted at 6.8177 per U.S. dollar
at 0816 GMT, 0.14% firmer than the previous close of 6.8275.
(Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)
((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))