Hong Kong stocks fall on renewed trade deal worries

Techtronic Industries Co

28/11/2019 08:41

* HK->Shanghai Connect daily quota used 3.4%, Shanghai->HK
daily
quota used 2.7%
    * HSI -0.2%, HSCE -0.6%, CSI300 -0.3%
    * FTSE China A50 -0.4%

    SHANGHAI, Nov 28 (Reuters) - Hong Kong stocks slipped on
Thursday as investors feared that U.S. President Donald Trump's
decision to sign a bill backing protesters in the Asian
financial hub could derail an interim trade deal between
Washington and Beijing. 
    ** The Hang Seng index  .HSI  fell 0.2% to 26,893.73, while
the China Enterprises Index  .HSCE  declined 0.6% to 10,561.87. 
 
    ** China warned the United States on Thursday that it would
take "firm counter measures" after Trump signed into law
congressional legislation which supported the Hong Kong
protesters. The development casts fresh uncertainty over trade
talks aimed at scaling back the tariff war.  urn:newsml:reuters.com:*:nL4N2880S4 
    ** Worries about slowing growth in world's second-largest
economy led to a weakness in shares of mainland companies, with
the HSCE, which tracks Chinese firms, dropping 0.6%, more than
the fall in benchmark Hang Seng index. 
    ** China should lower its economic growth target to around
6% for 2020 and step up stimulus as the trade war has
exacerbated a protracted slowdown, government advisers said on
Wednesday ahead of a key leadership meeting on the economy.
 urn:newsml:reuters.com:*:nL4N2872HV 
    ** China has also brought forward 1 trillion yuan ($142.07
billion) of the 2020 local government special bonds quota to
this year as it seeks to avert a sharper economic slowdown.
 urn:newsml:reuters.com:*:nL4N2872JL 
    ** Bucking the trend, Hong Kong shares of dual-listed
Alibaba Group  9988.HK  rose 5.6% to record high as the company
extended gains after its debut earlier this week.  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.23%, while Japan's Nikkei index
 .N225  closed down 0.12%.
    ** The yuan  CNY=CFXS  was quoted at 7.0319 per U.S. dollar
at 08:10 GMT, 0.06% weaker than the previous close of 7.0279. 
    ** At close, China's A-shares were trading at a premium of
27.48% over Hong Kong-listed H-shares.

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