HK shares end lower ahead of trade talks; rake gains in June

Want Want China Holdings

28/06/2019 09:52

* Hang Seng -0.3% but makes weekly, monthly gains; H-shares
-0.1%
    * Trump hopes for 'productive' talks; Xi blasts
protectionism
    * Local markets will be closed on July 1 for public holiday

    HONG KONG, June 28 (Reuters) - Hong Kong stocks ended Friday
and the week lower, paring some of their monthly gains, shortly
before a highly anticipated talk between Chinese President Xi
Jinping and his U.S. counterpart Donald Trump at the G20 summit
this weekend. 

** Trump and Xi will hold trade talks on Saturday at the G20
summit in Osaka, Japan. Friday was the last trading day before
the anticipated meeting.  urn:newsml:reuters.com:*:nL2N23Y01A
** At the close of trade, the Hang Seng index  .HSI  was down
0.3% at 28,542.62 points, but gained 0.2% for the week. The
benchmark ended up 6.1% month-on-month, underpinned by upbeat
trade developments earlier in June. 
** The Hang Seng China Enterprises index  .HSCE  ended 0.1%
lower on Friday, down 0.4% week-on-week.
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  ended down 0.7%, the IT sector  .HSCIIT  closed 0.1%
lower, the financial sector  .HSNF  ended flat and the property
sector  .HSNP  dropped 0.5%.    
** On Friday, Xi criticised some developed countries for taking
protectionist measures that are leading to trade conflicts and
economic blockade - calling them the biggest risk of the
increase in instability in the global economy.  urn:newsml:reuters.com:*:nR4N20804M
** Trump has agreed to no preconditions for his meeting with Xi
and is maintaining his threat to impose new tariffs on Chinese
goods, White House economic adviser Larry Kudlow said on
Thursday.  urn:newsml:reuters.com:*:nL4N23Y2CH
** Trump said on Friday he expected a productive meeting with Xi
on Saturday, while China's foreign ministry said it hopes the
United States will meet China halfway and ensure their meeting
is a success. urn:newsml:reuters.com:*:nT9N20Z002 urn:newsml:reuters.com:*:nB9N22W01R
** The top gainer on the Hang Seng was China Overseas Land &
Investment Ltd  0688.HK , which ended 2.5% firmer, while the
biggest loser was Want Want China Holdings Ltd  0151.HK , which
closed 3.2% lower.
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.1%, while Japan's Nikkei index
 .N225  closed down 0.3%.
** About 1.53 billion Hang Seng index shares were traded. The
volume traded in the previous trading session was 1.73 billion.
** At close, China's A-shares were trading at a premium of
28.30% over Hong Kong-listed H-shares.  .HSCAHPI 
** Hong Kong's financial markets are closed on July 1 for the
Special Administrative Region Establishment Day holiday and will
resume trading on July 2.  
    

 (Reporting by Noah Sin, Editing by Sherry Jacob-Phillips)
 ((noah.sin@thomsonreuters.com; Reuters Messaging:
noah.sin.thomsonreuters.com@reuters.net))