Hong Kong stocks end week lower amid uptick in virus cases

Hengan International

21/02/2020 08:39

Feb 21 (Reuters) - Hong Kong stocks ended weaker on Friday
to finish the week lower, as worries persisted over the impact
from the coronavirus outbreak even as Beijing unveiled stimulus
to shore up the world's second-largest economy. 
    
** The Hang Seng index  .HSI  closed 1.1% lower at 27,308.81,
while the China Enterprises Index  .HSCE  lost 1.1% to 10,790.84
points. 
    
** China reported an uptick in new cases of coronavirus on
Friday although the rise in infections remained at its slowest
pace since January, a downward trend which the World Health
Organization has called encouraging.  urn:newsml:reuters.com:*:nL4N2AL02N 

** In Hong Kong, authorities reported the first case of a police
officer to have contracted the coronavirus. The outbreak has
broadened discontent with the city's leadership and Beijing's
influence.  urn:newsml:reuters.com:*:nL4N2AL0UG 

** Despite broad risk sentiment stabilisation earlier in the
week, pockets of concern continue to be present across parts of
Asia on the back of the coronavirus concerns, dampening equity
performance, IG market strategist Jingyi Pan noted in report. 

** To cushion the economic impact of the coronavirus outbreak,
China has rolled out a raft of supportive measures, and
expectations are running high for further policy easing.
 urn:newsml:reuters.com:*:nL4N2AA2CR

** As widely expected, the People's Bank of China slashed a key
benchmark rate this week and said it would extend credit,
provide favourable loans or rates to firms involved in
controlling the epidemic.  urn:newsml:reuters.com:*:nL4N2AK0SS

The Chinese commerce ministry said on Friday it will speed up
studying new fiscal, tax financial, insurance measures to
support companies to counter the impact of the epidemic.
 urn:newsml:reuters.com:*:nB9N29P01T
    
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.7%, while the IT sector  .HSCIIT  dipped
1.72%, the financial sector  .HSNF  ended 0.8% lower and the
property sector dipped 1.5%.
 
** The top gainer on the Hang Seng was Hengan International
Group Company Ltd  1044.HK , which gained 0.58%, while the
biggest loser was Sands China Ltd  1928.HK , which fell 3.39%.
 
** China's main Shanghai Composite index  .SSEC  closed up 0.31%
at 3,039.67 points, while the blue-chip CSI300 index  .CSI300 
ended up 0.12%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.04%, while Japan's Nikkei index
 .N225  closed down 0.39%.
 
** The top gainers among H-shares were China Gas Holdings Ltd
 0384.HK  up 1%, followed by Anhui Conch Cement Co Ltd
 0914.HK , gaining 0.71% and Hengan International Group Company
Ltd  1044.HK , up by 0.58%.
 
** The three biggest H-shares percentage decliners were China
Resources Beer Holdings Co Ltd  0291.HK , which ended down
4.05%, Sunac China Holdings Ltd  1918.HK , which fell 3.03% and
CITIC Ltd  0267.HK , down by 2.52%.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))