for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

HK stocks end lower as China sees soft growth in bank loans

* HK->Shanghai Connect daily quota used -1.5%, Shanghai->HK daily quota used 2.3%

* HSI -0.2%, HSCE +0.4%, CSI300 +0.1%

* FTSE China A50 -0.4%

Nov 12 (Reuters) - Hong Kong stocks ended lower on Thursday, after data showed that new bank loans in China last month fell more than expected to their lowest in a year on tightened loan quotas.

** At the close of trade, the Hang Seng index was down 67.34 points or 0.26% at 26,122.52. The Hang Seng China Enterprises index rose 0.31% to 10,569.52.

** The sub-index of the Hang Seng tracking energy shares fell 1%, while the IT sector rose 4.53%, the financial sector ended 1.69% lower and the property sector closed 2.43% weaker.

** The top gainer in the Hang Seng was Geely Automobile Holdings Ltd, which gained 6.29%, while the biggest laggard was AIA Group Ltd after closing 3.79% lower.

** Lenders issued 689.8 billion yuan ($104.22 billion) in new yuan loans last month, data from the People’s Bank of China (PBOC) showed, down from 1.9 trillion yuan in September and well short of analysts’ expectations for 800 billion yuan.

** Hong Kong-listed tech giants rebounded from a sharp decline on Wednesday after China published draft rules aimed at preventing monopolistic behaviour by internet platforms, setting the city’s benchmark technology index for its worst session in four months.

** China’s latest policy has a relatively big impact on HK-listed new economy and tech stocks, Guodu Hong Kong noted in a report, adding that the market focus will return to old economy firms.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.23%, while Japan’s Nikkei index closed up 0.68%.

** The yuan was quoted at 6.6291 per U.S. dollar at 0802 GMT, 0.01% firmer than the previous close of 6.63.

** At close, China’s A-shares were trading at a premium of 38.70% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up