October 9, 2018 / 8:42 AM / a month ago

Hong Kong shares end lower as growth concerns weigh

* Hang Seng index down 0.1 pct in 6th straight session of loss

* China Enterprises index HSCE rises 0.3 percent

* HSI financial sector sub-index flat; property sector up 0.7 pct

* Offshore yuan borrowing costs spike

Oct 9 (Reuters) - Hong Kong shares ended lower on Tuesday as the Hang Seng index recorded its sixth consecutive day of loss, with concerns over slowing growth and the impact of an escalating Sino-U.S. trade war weighing on investor sentiment.

** At the close of trade, the Hang Seng index was 0.1 percent lower at 26,172.91 points, while the China Enterprises Index gained 0.3 percent to 10,420.62 points. ** The top gainer on Hang Seng was China Shenhua Energy Co Ltd , up 2.21 percent, while the biggest loser was Geely Automobile Holdings Ltd, down 5.23 percent, after the Chinese carmaker posted slower growth in sales. ** Shares in index heavyweight Tencent Holdings Ltd ended 1.7 percent lower amid a broader sell-off in technology shares. ** Tencent weighed on the IT sector, which dipped 1.19 percent. The financial sector ended 0.13 percent lower and property sector rose 0.68 percent while the sub-index of the Hang Seng tracking energy shares rose 1.2 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.27 percent, while Japan’s Nikkei index closed down 1.32 percent. ** The yuan was quoted at 6.924 per U.S. dollar at 08:23 GMT, 0.06 percent firmer than the previous close of 6.9285. ** Traders in Hong Kong said state-owned banks were seen as moving to prop up the offshore yuan, swapping U.S. dollars for offshore yuan and driving up overnight borrowing costs 326 basis point to 5 percent, the highest level since late May. ** The offshore yuan was trading at 6.9267 per dollar at 0826 GMT Tuesday. ** As of the previous trading session, the Hang Seng index was down 12.42 percent this year while China’s H-share index was down 11.2 percent. The Hang Seng had declined 5.71 percent this month as of its previous close. ** The top gainers among H-shares were China Huarong Asset Management Co Ltd, up 5.15 percent, followed by Guangzhou Automobile Group Co Ltd, up 4.07 percent and China Galaxy Securities Co Ltd, up by 2.85 percent. ** The three biggest H-shares percentage decliners were Hengan International Group Company Ltd, down 3.19 percent, China Vanke Co Ltd, down 2.1 percent and Tencent Holdings Ltd, down by 1.7 percent. ** About 1.80 billion Hang Seng index shares were traded, roughly 102.6 percent of the market’s 30-day moving average of 1.75 billion shares a day. The volume traded in the previous trading session was 2.37 billion. ** At close, China’s A-shares were trading at a premium of 22.56 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.15 as of the last full trading day while the dividend yield was 3.6 percent. ** So far this week, the market capitalisation of the Hang Seng index has fallen by 1.35 percent to HK$17.10 trillion. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 0.12 percent on the day at 5,351.79 points. (Reporting by Andrew Galbraith; Editing by Vyas Mohan)

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