Hong Kong stocks end flat, post best week in over 3 months

Guangdong Investment

28/05/2021 09:34

* HK->Shanghai Connect daily quota used 1.4%, Shanghai->HK
daily
quota used -0.1%
    * HSI +0.0%, HSCE -0.5%, CSI300 -0.3%
    * FTSE China A50 +0.0%

    May 28 (Reuters) - Hong Kong stocks ended flat on Friday, as
gains in resources firms were offset by losses in tech and
healthcare companies, but posted their best week in more than
three months as inflation fears fade. 
    ** The Hang Seng index  .HSI  was unchanged at 29,124.41,
while the China Enterprises Index  .HSCE  lost 0.5% to 10,793.55
points.  
    ** The Hang Seng tech index  .HSTECH  and the Hang Seng
healthcare index  .HSCIH  declined 2.1% and 3.1%, respectively. 
    ** The top gainer on the Hang Seng was CK Asset Holdings Ltd
 1113.HK , which gained 6.02%, while the biggest loser was
Haidilao International Holding Ltd  6862.HK , which fell 6.89%. 
    ** Resources firms climbed, with the Hang Seng materials
index  .HSCIM  up 1.9%, after reports of U.S. President Joe
Biden's $6 trillion budget boosted sentiment.  urn:newsml:reuters.com:*:nL2N2NE14M  
    ** For the week, HSI gained 2.3%, its best since Feb 12,
while HSCE firmed 0.9%. 
    ** Analysts and traders attributed the week's rally to
easing worries over inflation as Beijing vowed to curb
significant prices gains in the commodities market.  urn:newsml:reuters.com:*:nL2N2NB01L
 
    ** Latest data also showed earnings at China's industrial
firms grew at a slower pace in April, calming concerns over
policy tightening that weigh on risk appetite and valuations.
 urn:newsml:reuters.com:*:nL2N2NE03G 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.44%, while Japan's Nikkei index
 .N225  closed up 2.1%.
    ** The yuan  CNY=CFXS  was quoted at 6.366 per U.S. dollar
at 08:13 GMT, 0.28% firmer than the previous close of 6.384.

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