Hong Kong shares end flat as investors pause after recent rallies

  • 1/13/2021
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* HK->Shanghai Connect daily quota used 2.2%, Shanghai->HK daily quota used 14.8% * FTSE China A50 -0.6% BEIJING/SHANGHAI, Jan 13 (Reuters) - Hong Kong shares ended lower on Wednesday, with consumer shares leading the declines, as investors paused after a rally fuelled by the south-bound bargain hunting from mainland investors. ** The Hang Seng index ended 29.72 points or 0.11% lower at 28,268.80. The Hang Seng China Enterprises index fell 0.27% to 11,199.59. ** The sub-index of the Hang Seng tracking the consumer staple sector dropped 1.93%, while the financial sector ended 0.3% lower and the property sector dipped 0.19%. ** Mainland investors purchased a net 12.26 billion yuan ($1.90 billion) worth of Hong Kong stocks via the Stock Connect linking Shanghai, Shenzhen and Hong Kong, Refinitiv data showed, remaining the momentum from previous sessions. ** In recent sessions, as U.S. investors dump shares in Chinese companies blacklisted by outgoing President Donald Trump, bargain hunters in China are taking the opposite side of that trade, wagering that a Joe Biden presidency will reverse the investment ban. ** The top gainer on the Hang Seng on Wednesday was CNOOC Ltd , which gained 4.93%, while the biggest loser was Sino Biopharmaceutical Ltd, which fell 3.53%. ** China’s main Shanghai Composite index closed down 0.27% at 3,598.65, while the blue-chip CSI300 index ended down 0.33%, on profit-taking. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.25%, while Japan’s Nikkei index closed up 1.04%.

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