Hong Kong stocks slip to end week lower

  • 6/4/2021
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* HK->Shanghai Connect daily quota used 5.4%, Shanghai->HK daily quota used 2.6% * HSI -0.2%, HSCE -0.2%, CSI300 +0.5% * FTSE China A50 +0.7% June 4 (Reuters) - Hong Kong stocks dipped on Friday to end the week lower, in line with other Asian markets, amid worries over higher inflation and an earlier withdrawal of U.S. Federal Reserve stimulus. ** At the close of trade, the Hang Seng index was down 47.93 points or 0.17% at 28,918.10. The Hang Seng China Enterprises index fell 0.2% to 10,805.64. ** The sub-index of the Hang Seng tracking energy shares dipped 0.3%, while the IT sector dipped 0.91%, the financial sector ended 0.11% higher and the property sector dipped 0.32%. ** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, which gained 6.21%, while the biggest loser was Haidilao International Holding Ltd, which fell 6.23%. ** For the week, HSI eased 0.7%, while HSCE inched up 0.1%. ** U.S. Treasury yields remained elevated after jumping overnight, while the dollar also held its biggest gain since April after better-than-expected employment data raised expectations for a strong reading for Friday’s nonfarm payrolls, while a measure of service sector activity climbed to a record high. ** Latest Sino-U.S. tensions also hurt investment sentiment. ** U.S. President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to the defence or surveillance technology sectors. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.26%, while Japan’s Nikkei index closed down 0.4%. ** The yuan was quoted at 6.4123 per U.S. dollar at 0819 GMT, 0.13% weaker than the previous close of 6.404. ** At the close, China’s A-shares were trading at a premium of 37.51% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom Editing by Robert Birsel ) Our Standards: The Thomson Reuters Trust Principles.

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