Hong Kong stocks track fall in other Asian markets

  • 5/13/2021
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* HK->Shanghai Connect daily quota used -3.9%, Shanghai->HK daily quota used 7% * HSI -1.8%, HSCE -2.1%, CSI300 -1.0% * FTSE China A50 -1.1% May 13 (Reuters) - Hong Kong stocks fell on Thursday, tracking a broad sell-off in other Asian markets amid worries over U.S. inflation. ** At the close of trade, the Hang Seng index was down 512.37 points, or 1.81%, at 27,718.67. The Hang Seng China Enterprises index fell 2.05% to 10,339.99. ** The sub-index of the Hang Seng tracking energy shares dipped 2.8%, while the IT sector dipped 3.11%, the financial sector ended 1.14% lower, the Hang Seng tech index dropped 3.3% and the property sector dipped 1.58%. ** The top gainer on the Hang Seng was China Mengniu Dairy Co Ltd, which gained 2.86%, while the biggest loser was Techtronic Industries Co Ltd, which fell 9.49%. ** Asian shares slipped to seven-week lows after a dismaying rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening. ** Tensions between Beijing and Washington added to the pressure. ** The Chinese government has turned its western Xinjiang province into essentially an “open-air prison”, a U.S. State Department official said on Wednesday as the department published a report that criticized China’s treatment of religious minorities. ** Bucking the retreat, mainland investors purchased a net 5 billion yuan ($774.75 million) worth of Hong Kong shares via the Stock Connect linking mainland and Hong Kong, according to Refinitiv data. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.37%, while Japan’s Nikkei index closed down 2.49%. ** The yuan was quoted at 6.4525 per U.S. dollar at 08:17 GMT, 0.08% firmer than the previous close of 6.4575. ** At close, China’s A-shares were trading at a premium of 37.97% over Hong Kong-listed H-shares. ($1 = 6.4537 Chinese yuan renminbi) (Reporting by the Shanghai Newsroom; Editing by Vinay Dwivedi) Our Standards: The Thomson Reuters Trust Principles.

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