China and HK stocks close down despite upbeat service activity data

Sunny Optical Technology Co

05/06/2024 09:18

(Updates to market close)
       SHANGHAI, June 5 (Reuters) - China stocks closed down on
Wednesday, dragged lower by consumer and property shares,
despite an unexpected pickup in service activity in May. Hong
Kong shares were also down.
    China's services activity in May accelerated at the quickest
pace in 10 months, while staffing levels expanded for the first
time since January, a private sector survey showed on Wednesday,
pointing to sustained recovery in the second quarter.
    Meanwhile, some Chinese AI chip companies are now designing
less powerful processors to retain access to Taiwan
Semiconductor Manufacturing Co  2330.TW  production in the face
of U.S. sanctions.  
    The CSI semiconductor index  .CSIH30184  added 0.4%.

** At the close, the Shanghai Composite index  .SSEC  was down
0.83% at 3,065.40.
** The blue-chip CSI300 index  .CSI300  was down 0.58%, with its
financial sector sub-index  .CSI300FS  lower by 0.75%, the
consumer staples sector  .CSI000912  down 1.11%, the real estate
index  .CSI000952  down 2.55% and the healthcare sub-index
 .CSI300HC  up 0.2%.
** The smaller Shenzhen index  .SZSC  ended down 1.19% and the
start-up board ChiNext Composite index  .CNT  was weaker by
0.545%.
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.96%, while Japan's Nikkei index
 .N225  closed down 0.89%.
** At 08:03, the yuan  CNY=CFXS  was quoted at 7.2458 per U.S.
dollar, 0.08% weaker than the previous close of 7.2402.
** At the close of trade, the Hang Seng index  .HSI  was down
27.08 points or 0.15% at 18,505.56. The Hang Seng China
Enterprises index  .HSCE  fell 0.21% to 6,572.21.
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 1.3%, while the IT sector  .HSCIIT  rose 0.38%,
the financial sector  .HSNF  ended 0.1% lower and the property
sector dipped 1.05%.
** The top gainer on the Hang Seng was Sunny Optical Technology
Group Co Ltd  2382.HK , which rose 4.91%, while the biggest
loser was Zhongsheng Group Holdings Ltd  0881.HK , which fell
7.42%.

 (Reporting by Shanghai Newsroom; Editing by Eileen Soreng and
Sohini Goswami)
 ((li.gu@tr.com))