March 21, 2019 / 8:32 AM / 6 months ago

Hong Kong stocks close down as tech firms weigh

* Hang Seng index falls 0.85 pct

* China Enterprises index HSCE falls 0.7 pct

* HSI financial sector sub-index -0.7 pct; property down 0.7 pct

SHANGHAI, March 21 (Reuters) - Hong Kong stocks ended lower on Thursday, pressured by tech firms, as concerns about Sino-U.S. trade talks lingered.

** The Hang Seng index fell 0.9 percent to 29,071.56, while the China Enterprises Index lost 0.7 percent to 11,544.09.

** U.S. President Donald Trump on Wednesday warned that Washington may leave tariffs on Chinese goods for a “substantial period” to ensure Beijing’s compliance with any trade deal.

** China-U.S. trade talks are set to resume next week.

** Losers were led by telecommunication and IT firms. The Hang Seng telecommunication index slumped 3.2 percent, posting its worst day in a year. The IT index closed down 1.8 percent, as market eyed gaming giant Tencent’s quarterly results.

** Tencent Holdings is set to report on Thursday its sharpest quarterly profit decline in more than 13 years, as its failure to launch new blockbuster games due to China’s regulatory review capped revenue growth.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.29 percent.

** The yuan was quoted at 6.6843 per U.S. dollar at 08:15 GMT, 0.15 percent firmer than the previous close of 6.6943.

** Top gainers among H-shares were New China Life Insurance Co Ltd up 7.13 percent, followed by Anhui Conch Cement Co Ltd, gaining 4.42 percent and China National Building Material Co Ltd, up by 3.81 percent.

** The three biggest H-shares percentage decliners were China Mobile Ltd, which was down 5.04 percent, China Resources Land Ltd, which fell 2.1 percent and Tencent Holdings Ltd, down by 2.0 percent.

** About 1.80 billion Hang Seng index shares were traded, roughly 95.2 percent of the market’s 30-day moving average of 1.89 billion shares. The volume traded in the previous trading session was 1.63 billion.

** At close, China’s A-shares were trading at a premium of 24.58 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Gopakumar Warrier)

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