Hang Seng falls the most in 6 weeks on Wall Street retreat, yield spike

Hang Lung Properties

30/01/2018 08:09

* Hang Seng index ends down 1.1 pct 
    * China Enterprises index HSCE falls 2 percent 
    * HSI financial sector sub-index is 1.3 percent lower; 
property 
sector down 0.3 percent 
 
    Jan 30 (Reuters) - Hang Seng  .HSI  posted its biggest 
one-day loss in six weeks on Tuesday, as Wall Street weakness in 
the wake of a spike in global bond yields prompted investors to 
lock in profit in high-flying Hong Kong stocks. 
 
** At close of trade, the Hang Seng index was down 359.60 
points, or 1.09 percent, at 32,607.29. The Hang Seng China 
Enterprises index  .HSCE  fell 1.98 percent to 13,389.38. 
  
**The sub-index of the Hang Seng tracking energy shares  .HSCIE  
dipped 2.8 percent while the IT sector  .HSCIIT  dipped 1.85 
percent, the financial sector  .HSNF  was 1.28 percent lower and 
property sector dipped 0.3 percent. 
  
** The top gainer on Hang Seng was Country Garden Holdings Co 
Ltd  2007.HK , up 2.09 percent, while the biggest loser was Hang 
Lung Properties Ltd  0101.HK  which was down 5.41 percent. 
  
** China's main Shanghai Composite index  .SSEC  closed down 
0.99 percent at 3,488.1888 points while its blue-chip CSI300 
index  .CSI300  ended down 1.07 percent. 
  
 ** Around the region, MSCI's Asia ex-Japan stock index 
 .MIAPJ0000PUS  was weaker by 1.37 percent while Japan's Nikkei 
index  .N225  closed down 1.43 percent. 
  
 ** The yuan  CNY=CFXS  was quoted at 6.3398 per U.S. dollar at 
08:10 GMT, 0.1 percent firmer than the previous close of 6.346.  
  
** As of the previous trading session, the Hang Seng index was 
up 10.19 percent this year, while China's H-share index was up 
16.7 percent.  
     
** The top gainers among H-shares were China Merchants Bank Co 
Ltd  3968.HK  up 2.04 percent, followed by Guangzhou Automobile 
Group Co Ltd  2238.HK  gaining 1.72 percent and Great Wall Motor 
Co Ltd  2333.HK  up by 1.04 percent. 
  
** The three biggest H-shares percentage decliners were China 
Minsheng Banking Corp Ltd  1988.HK  which was down 3.95 percent, 
PetroChina Co Ltd  0857.HK  which fell 3.7 percent and Bank of 
China Ltd  3988.HK  down by 3.5 percent. 
  
** About 3.28 billion Hang Seng index shares were traded, 
roughly 138.4 percent of the market's 30-day moving average of 
2.37 billion shares a day. The volume traded in the previous 
trading session was 3.72 billion. 
  
** At close, China's A-shares were trading at a 
premium of 27.68 percent over the Hong Kong-listed H-shares. 
  
** The price-to-earnings ratio of the Hang Seng index was 15.05 
as of the last full trading day while the dividend yield was 2.6 
percent. 
 
 (Reporting by the Shanghai Newsroom; Editing by Sam Holmes) 
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging: 
luoyan.liu.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA STOCKS/HONGKONG CLOSE