Hong Kong shares break six-session losing streak

Want Want China Holdings

10/10/2018 09:41

* HSI +0.1 pct, HSCE +0.2 pct, CSI300 -0.2 pct
    * Tencent falls 2.5 pct, drags down tech shares
    * Financial sector gains 0.2 pct

    Oct 10 (Reuters) - Hong Kong shares ended slightly higher on
Wednesday, breaking a six-session losing streak, but persistent
concerns over growth and global trade capped gains.
    
** The Hang Seng index  .HSI  rose 0.1 percent to 26,193.07
points, while the China Enterprises Index  .HSCE  gained 0.2
percent to 10,442.71 points.   
 
** U.S. President Donald Trump on Tuesday repeated his threat to
impose tariffs on $267 billion worth of additional Chinese
imports if China retaliates for the recent levies and other
measures the United States has taken in the countries'
escalating trade war.  urn:newsml:reuters.com:*:nL2N1WP0R5
 
** China must take strong stimulus measures to support growth,
with the country in a "critical" period of stabilising its
economy, according to a commentary in the Global Times, a
state-backed Chinese tabloid.  urn:newsml:reuters.com:*:nL4N1WP2FX  
 
** Risks to the global financial system have risen over the past
six months and could increase sharply if pressures in emerging
markets escalate or global trade relations deteriorate further,
the International Monetary Fund said on Wednesday. But the IMF's
chief economist said he was not concerned about China's ability
to defend its currency.  urn:newsml:reuters.com:*:nL2N1WK15C urn:newsml:reuters.com:*:nL4N1WP1G8
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 0.4 percent, while the IT sector  .HSCIIT  dipped
1.63 percent, the financial sector  .HSNF  was 0.17 percent
higher and property sector dipped 0.27 percent.
 
** Index heavyweight Tencent Holdings Ltd  0700.HK  weighed on
the tech sector as the company's shares fell to 15-month lows in
their ninth straight session of losses, closing down 2.5
percent.  urn:newsml:reuters.com:*:nL4N1WQ2TZ
 
** The top gainer on Hang Seng was China Shenhua Energy Co Ltd
 1088.HK , up 4.1 percent, while the biggest loser was Want Want
China Holdings Ltd  0151.HK , which fell 6.86 percent.
 
** China's main Shanghai Composite index  .SSEC  closed up 0.2
percent at 2,725.84, while the blue-chip CSI300 index  .CSI300 
ended down 0.22 percent.
 
 ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.03 percent, while Japan's Nikkei
index  .N225  closed up 0.16 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.9192 per U.S. dollar at
08:23 GMT, 0.1 percent firmer than the previous close of 6.926. 
 
** As of the previous trading session, the Hang Seng index was
down 12.52 percent this year, while China's H-share index was
down 11.0 percent. As of the previous close, the Hang Seng has
declined 5.81 percent this month. 
 
** The top gainers among H-shares were China Shenhua Energy Co
Ltd  1088.HK  up 4.1 percent, followed by ZhongAn Online P & C
Insurance Co Ltd  6060.HK , gaining 3.61 percent and China
Mobile Ltd  0941.HK , up by 3 percent.
 
** The three biggest H-shares percentage decliners were Shenzhou
International Group Holdings Ltd  2313.HK , which was down 4.85
percent, China Gas Holdings Ltd  0384.HK , which fell 3.4
percent and Tencent Holdings Ltd  0700.HK , down by 2.5 percent.
 
** About 1.77 billion Hang Seng index shares were traded,
roughly the same as the market's 30-day moving average. The
volume traded in the previous trading session was 1.80 billion.
 
** At close, China's A-shares were trading at a premium of 23.22
percent over the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 10.14
as of the last full trading day while the dividend yield was 3.6
percent.
 
** So far this week, the market capitalisation of the Hang Seng
index has fallen by 1.55 percent to HK$17.06 trillion.
 
** The short and one-factor leveraged Hang Seng index  .HSISI ,
which is designed to replicate the payoff of a short or
leveraged portfolio and is linked to the movements of the Hang
Seng Index, was lower by 0.07 percent on the day at 5,348.05
points.

 (Reporting by Andrew Galbraith; Editing by Amrutha Gayathri)
 ((Andrew.Galbraith@tr.com; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))