HK stocks fall as U.S. probe of Huawei batters China tech shares

Kingdee International Software Co

26/04/2018 09:42

* Hang Seng index ends down 1.1 pct, led by tech stocks 
    * China Enterprises index HSCE falls 1.2 percent 
    * HSI financial sector sub-index is 1.1 percent lower;
property
sector down 0.6 percent

    April 26 (Reuters) - Hong Kong shares fell on Thursday as
Chinese technology companies listed in the city tumbled after a
U.S. probe of Huawei deepened fears that the sector could suffer
from rising trade tensions between Beijing and Washington.
   
** The Hang Seng index  .HSI  fell 1.1 percent to 30,007.68,
while the China Enterprises Index  .HSCE  lost 1.2 percent, to
11,949.38.
    
** U.S. prosecutors in New York have been investigating whether
Chinese technology company Huawei violated U.S. sanctions in
relation to Iran, according to sources familiar with the
situation. The technology sector in Hong Kong fell by 1.6
percent, led by Chinese companies including Chinasoft
International  0354.HK , Kingdee International  0268.HK  and
Lenovo Group  0992.HK . 
 
** At close of trade, the Hang Seng index was down 320.47
points. The Hang Seng China Enterprises index  .HSCE  fell 1.2
percent to 11949.38.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 1.5 percent while the IT sector  .HSCIIT  dipped
1.61 percent, the financial sector  .HSNF  was 1.08 percent
lower and property sector dipped 0.59 percent .
 
** The top gainer on Hang Seng was WH Group Ltd  0288.HK  up
1.28 percent, while the biggest loser was Sunny Optical
Technology Group Co Ltd  2382.HK  which was down 6.97 percent.
 
** In China, the blue-chip CSI300 index  .CSI300  closed down
1.9 percent at 3,755.49, its worst day in a month, while the
Shanghai Composite Index  .SSEC  lost 1.4 percent to 3,075.03. 
 
 ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.25 percent while Japan's Nikkei
index  .N225  closed up 0.47 percent.
 
 ** The yuan  CNY=CFXS  was quoted at 6.331 per U.S. dollar at
08:23 GMT, 0.06 percent weaker than the previous close of 6.327.
 
** As of the previous trading session, the Hang Seng index was
up 1.37 percent this year, while China's H-share index was up
3.3 percent. As of the previous close, the Hang Seng has risen
0.78 percent this month. 
 
** The top gainers among H-shares were Great Wall Motor Co Ltd
 2333.HK  up 3.32 percent, followed by Guangdong Investment Ltd
 0270.HK  gaining 1.62 percent and China Communications
Construction Co Ltd  1800.HK  up by 1.14 percent.
 
** The three biggest H-shares percentage decliners were ZhongAn
Online P & C Insurance Co Ltd  6060.HK  which was down 4.70
percent, China Vanke Co Ltd  2202.HK  which fell 4.1 percent and
Ping An Insurance Group Co of China Ltd  2318.HK  down by 3.8
percent.
 
** About 1.82 billion Hang Seng index shares were traded,
roughly 99.4 percent of the market's 30-day moving average of
1.83 billion shares a day. The volume traded in the previous
trading session was 1.73 billion.
 
** At close, China's A-shares were trading at a
premium of 22.09 percent over the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 12.43
as of the last full trading day while the dividend yield was 3.2
percent.

 (Reporting by the Shanghai Newsroom; Editing by Gopakumar
Warrier)
 ((samuel.shen@tr.com))