Hong Kong shares rise on property gains; H-shares down

Hang Lung Properties

29/08/2018 09:52

* Hang Seng index ends up 0.23 pct
    * China Enterprises index HSCE falls 0.13 percent 
    * HSI financial sector sub-index flat; property sector up
0.6 pct

    Aug 29 (Reuters) - Shares in Hong Kong ended higher on
Wednesday, lifted by property developers, but a cloudy outlook
for trade and economic growth in China put pressure on the Hang
Seng's China Enterprises index.
** At close of trade, the Hang Seng index was up 64.82 points,
or 0.23 percent, at 28,416.44. The Hang Seng China Enterprises
index  .HSCE  fell 0.13 percent to 11,083.06.
     
** China's state planner head has warned the economy faces
increased risks in the second half of this year and that greater
efforts are needed for policymakers to hit economic development
goals as external challenges intensify.  urn:newsml:reuters.com:*:nL3N1VK1HZ
     
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 0.8 percent while the IT sector  .HSCIIT  dipped
0.82 percent, the financial sector  .HSNF  was 0.16 percent
higher and property sector rose 0.63 percent.
     
** Property developer China Jinmao  0817.HK  saw its shares
rising to a one-month high after it reported a 43 percent rise
in first-half core profit. Agile Group  3383.HK  rose as much as
5.2 percent to a 2-month high on a 102 percent rise in H1 net
profit.  urn:newsml:reuters.com:*:nFWN1VJ031 urn:newsml:reuters.com:*:nL3N1VK2F1
 
** The top gainer on Hang Seng was Hang Lung Properties Ltd
 0101.HK  up 2.43 percent, while the biggest loser was BOC Hong
Kong Holdings Ltd  2388.HK  which was down 2.04 percent.
 
** China's main Shanghai Composite index  .SSEC  closed down
0.31 percent at 2,777.9808 while its blue-chip CSI300 index
 .CSI300  ended down 0.4 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.24 percent while Japan's Nikkei
index  .N225  closed up 0.15 percent, with investor optimism
over a U.S.-Mexico trade deal clouded by worries over a looming
deadline on tariffs with China on Sept. 5.  urn:newsml:reuters.com:*:nL3N1VK1UK
 
** The yuan  CNY=CFXS  was quoted at 6.8218 per U.S. dollar at
08:29 GMT, 0.28 percent weaker than the previous close of 6.803.
 
** As of the previous trading session, the Hang Seng index was
down 5.24 percent this year, while China's H-share index was
down 5.2 percent. As of the previous close, the Hang Seng has
declined 0.81 percent this month. 
 
** The top gainers among H-shares were Guangzhou Automobile
Group Co Ltd  2238.HK  up 6.4 percent, followed by Shenzhou
International Group Holdings Ltd  2313.HK  gaining 2.39 percent
and Great Wall Motor Co Ltd  2333.HK  up by 2.04 percent.
 
** The three biggest H-shares percentage decliners were GF
Securities Co Ltd  1776.HK  which was down 3.04 percent, Postal
Savings Bank of China Co Ltd  1658.HK  which fell 2.9 percent
and PICC Property and Casualty Co Ltd  2328.HK  down by 2.8
percent.
 
** About 1.41 billion Hang Seng index shares were traded,
roughly 82.6 percent of the market's 30-day moving average of
1.71 billion shares a day. The volume traded in the previous
trading session was 1.70 billion.
 
** At close, China's A-shares were trading at a premium of 16.75
percent over the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 10.69
as of the last full trading day while the dividend yield was 3.4
percent.
 
** So far this week, the market capitalisation of the Hang Seng
index has risen by 2.46 percent to HK$18.44 trillion.
 
** The short and one-factor leveraged Hang Seng index  .HSISI ,
which is designed to replicate the payoff of a short or
leveraged portfolio and is linked to the movements of the Hang
Seng Index, was lower by 0.23 percent on the day at 4,960.02
points. 

 (Reporting by Andrew Galbraith; Editing by Gopakumar Warrier)
 ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))