Hong Kong stocks slip on profit-taking

Nongfu Spring

27/05/2021 09:42

* HK->Shanghai Connect daily quota used 17.1%, Shanghai->HK
daily
quota used -1.3%
    * HSI -0.2%, HSCE -0.1%, CSI300 +0.3%
    * FTSE China A50 +0.2%

    May 27 (Reuters) - Hong Kong stocks closed lower on
Thursday, pressured by losses in the financial and property
sector, as investors booked profits following a recent run of
gains. 
    ** At the close of trade, the Hang Seng index  .HSI  was
down 52.81 points, or 0.18%, at 29,113.20. The Hang Seng China
Enterprises index  .HSCE  inched down 0.07% to 10,848.35.
    ** The IT sector  .HSCIIT  dipped 0.66%, financial stocks
 .HSNF  ended 0.51% lower and property firms lost 0.13%.
    ** The retreat came after a two-day rally that saw the Hang
Seng index climb nearly 3% amid fading worries over inflation at
home and abroad. 
    ** Earnings at China's industrial firms grew at a slower
pace in April, data showed, with high commodity prices and
weaker performance in the consumer goods sector limiting overall
profitability from manufacturing.  urn:newsml:reuters.com:*:nL2N2NE03G  
    ** Investor focus was also on developments surrounding
Sino-U.S. relations. 
    ** China and the United States should work together to push
for the implementation of a Phase 1 trade deal, commerce
ministry spokesman Gao Feng told a news conference.  urn:newsml:reuters.com:*:nB9N2L1016
    ** The Hang Seng tech index  .HSTECH , sensitive to
Sino-U.S. relations, added 0.6%.  
    ** Shares of Chinese smartphone maker Xiaomi Corp  1810.HK 
closed up 3.2%, after reporting forecast-beating first-quarter
revenue growth of 55% on Wednesday.  urn:newsml:reuters.com:*:nL2N2ND0PL  
    ** China's main Shanghai Composite index  .SSEC  closed up
0.43% at 3,608.85 points, while the blue-chip CSI300 index
 .CSI300  ended up 0.33%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.01%, while Japan's Nikkei index
 .N225  closed down 0.33%.
    ** The yuan  CNY=CFXS  was quoted at 6.3767 per U.S. dollar
at 0821 GMT, 0.23% firmer than the previous close of 6.3915. 

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