Hong Kong stocks slip on subdued China data, post quarterly gains

  • 6/30/2021
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* HK->Shanghai Connect daily quota used 100%, Shanghai->HK daily quota used -1.7% * HSI -0.6%, HSCE -0.9%, CSI300 +0.7% * FTSE China A50 +0.5% June 30 (Reuters) - Hong Kong stocks slipped on Wednesday, as energy and IT firms retreated after subdued Chinese factory activity data, but they posted quarterly gains. ** At the close of trade, the Hang Seng index was down 166.15 points or 0.57%, at 28,827.95. The Hang Seng China Enterprises index fell 0.87% to 10,663.39. ** The sub-index of the Hang Seng tracking energy shares dipped 0.9%, while the IT sector dipped 0.82%, the financial sector ended 0.3% lower and the property sector dipped 1.02%. ** The top gainer on the Hang Seng was Galaxy Entertainment Group Ltd, which gained 4.37%, while the biggest loser was Hengan International Group Company Ltd, which fell 4.41%. ** For the quarter, HSI gained 1.8%, while HSCE shed 2.8%. ** Growth in China’s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia. ** Shares of oncology and immunology drug developer and maker Hutchmed China Ltd traded as high as HK$59.80 in Hong Kong debut, up 49.1% from offer price. ** Nayuki Holdings Ltd, which serves freshly-made tea drinks in China, closed down 13.5% from the IPO price on debut. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.02%, while Japan’s Nikkei index closed down 0.07%. ** The yuan was quoted at 6.4598 per U.S. dollar at 08:15, 0.06% firmer than the previous close of 6.464. ** At close, China’s A-shares were trading at a premium of 38.89% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich) Our Standards: The Thomson Reuters Trust Principles.

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