Hong Kong stocks close lower after China trade data

JD Health International

07/06/2021 09:39

* HK->Shanghai Connect daily quota used -0.1%, Shanghai->HK
daily
quota used 1.5%
    * HSI -0.5%, HSCE -0.5%, CSI300 -0.1%
    * FTSE China A50 -0.3%

    June 7 (Reuters) - Hong Kong stocks dipped on Monday, with
gains for consumer firms offset by losses for financial and IT
companies, as investors reacted to mixed China trade data. 
    ** At the close of trade, the Hang Seng index  .HSI  was
down 130.82 points or 0.45% at 28,787.28. The Hang Seng China
Enterprises index  .HSCE  fell 0.53% to 10,748.2.
    ** The sub-index of the Hang Seng tracking consumer staples
 .HSCICS  rose 1.2%, the IT sector  .HSCIIT  dipped 0.92%, while
the financial sector  .HSNF  ended 0.44% lower. 
    ** The top gainer on the Hang Seng was WH Group Ltd
 0288.HK , which gained 7.71%, while the biggest loser was Geely
Automobile Holdings Ltd  0175.HK , which fell 5.17%.
    ** China's imports grew at their fastest pace in 10 years in
May, fuelled by surging commodity prices, while export growth
missed expectations, likely weighed by disruptions caused by
COVID-19 cases at major ports in the country's south.
 urn:newsml:reuters.com:*:nL2N2NP06E  
    ** Birth- and fertility-related stocks also retreated, after
Moody's said China's new policy allowing couples to have up to
three children was unlikely to dramatically change the national
birthrate.  urn:newsml:reuters.com:*:nFWN2NN067     
    ** It's a good time to buy internet firms listed in Hong
Kong, which have yet to recoup their lost ground amid anti-trust
concerns, as those firms have solid growth potential, analysts
at Ping An Securities noted in a report.  
    ** The Hang Seng tech index  .HSTECH  eased 0.7% on Monday,
still off 27% from a record high hit in mid-Feb. 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.03%, while Japan's Nikkei index
 .N225  closed up 0.27%.
    ** The yuan  CNY=CFXS  was quoted at 6.3947 per U.S. dollar
at 08:20 GMT, 0% firmer than the previous close of 6.395. 
    ** At the close, China's A-shares were trading at a premium
of 38.25% over Hong Kong-listed H-shares.

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