August 31, 2018 / 8:42 AM / 9 months ago

HK stocks fall on renewed trade war fears; Tencent slumps

Aug 31 (Reuters) - Hong Kong stocks ended lower on Friday, falling for four months in a row, with risk appetite curbed by renewed trade war fears. ** Sentiment was also hurt by a slump in index heavyweight Tencent, as Beijing’s proposed tougher measures against online gaming hit game operators.

** The Hang Seng index fell 1.0 percent, to 27,888.55, while the China Enterprises Index lost 0.8 percent, to 10,875.58 points.

** Sentiment was hit by a report that U.S. President Donald Trump is prepared to ramp up a trade war with China and is ready to impose tariffs on $200 billion more in Chinese imports after a period of public comment on the plan ends next week. **The sub-index of the Hang Seng tracking energy shares dipped 0.6 percent while the IT sector dipped 3.62 percent, the financial sector was 0.73 percent lower and the property sector dipped 0.87 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.63 percent while Japan’s Nikkei index closed down 0.02 percent. ** The yuan was quoted at 6.8296 per U.S. dollar at 08:30 GMT, 0.21 percent firmer than the previous close of 6.844. ** At close, China’s A-shares were trading at a premium of 17.70 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.66 as of the last full trading day while the dividend yield was 3.4 percent. (Reporting by the Shanghai Newsroom; Editing by Sunil Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below