Hong Kong stocks fall, but post monthly gain on tech strength

Guangdong Investment

30/10/2020 08:42

* HK->Shanghai Connect daily quota used -5.9%, Shanghai->HK
daily
quota used 9.9%
    * HSI -2.0%, HSCE -2.0%, CSI300 -1.6%
    * FTSE China A50 -1.3%

    Oct 30 (Reuters) - Hong Kong stocks fell on Friday, tracking
other Asian markets' declines on worries over next week's U.S.
presidential election and a shaky global economic outlook, but
strength in tech companies led to monthly gains.
    ** At the close of trade, the Hang Seng index  .HSI  was
down 1.95% at 24,107.42. The Hang Seng China Enterprises index
 .HSCE  fell 1.96% to 9,760.24.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 1.3%, while the IT sector  .HSCIIT  dipped
2.29%, the financial sector  .HSNF  ended 2.33% lower and the
property sector dipped 0.56%.
    ** For the month, HSI added 2.8%, while HSCE climbed 3.9%. 
    ** Record numbers of coronavirus cases worldwide and the
Nov. 3 U.S. presidential election remained the major focus for
investors. On Wednesday, global coronavirus cases rose by more
than 500,000 for the first time, with France and Germany
prepping fresh lockdowns.  urn:newsml:reuters.com:*:nL4N2HF00N  
    ** China will set detailed economic targets for 2021-2025 to
help promote higher quality growth, following a meeting of top
Chinese leaders, the vice head of the country's state planner
said on Friday.  urn:newsml:reuters.com:*:nL1N2HL07J 
    ** China aims for sustained and healthy economic development
in the next five years, with an emphasis on higher quality
growth, the ruling Communist Party's Central Committee said in a
communique published on Thursday, after a conclave.  urn:newsml:reuters.com:*:nL1N2HK0T3
 
    ** Leading the gains for the month, the Hang Seng tech index
 .HSTECH  gained 6.3% in October. 
    ** Alibaba's Hong Kong shares  9988.HK  rose 6.4% for the
month ahead of Ant Group's IPO, while tech giant Tencent
 0700.HK  jumped 15.5%.  urn:newsml:reuters.com:*:nL1N2HK10C 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.28%, while Japan's Nikkei index
 .N225  closed down 1.52%.
    ** The yuan  CNY=CFXS  was quoted at 6.699 per U.S. dollar
at 08:30 GMT, 0.25% firmer than the previous close of 6.7161. 

 (Reporting by the Shanghai Newsroom; editing by Barbara Lewis)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))