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Hong Kong shares fall, shrug off robust China industrial profits
November 27, 2017 / 8:24 AM / 19 days ago

Hong Kong shares fall, shrug off robust China industrial profits

Nov 27 (Reuters) - Hong Kong shares closed lower on Monday, as investors largely shrugged off data showing profits at China’s industrial firms continued to grow at a robust pace last month despite a slight cooling from a sizzling September. ** At close of trade, the Hang Seng index was down 180.13 points or 0.6 percent at 29,686.19. The Hang Seng China Enterprises index fell 1.14 percent to 11,772.27.

**The sub-index of the Hang Seng tracking energy shares rose 0.1 percent while the IT sector dipped 1.3 percent , the financial sector was 0.76 percent lower and property sector dipped 0.48 percent.

** The top gainer on Hang Seng was WH Group Ltd up 2.22 percent, while the biggest loser was China Mengniu Dairy Co Ltd which was down 4.53 percent.

** China’s main Shanghai Composite index closed down 0.92 percent at 3,322.8308 points while its blue-chip CSI300 index ended down 1.3 percent.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.80 percent while Japan’s Nikkei index closed down 0.24 percent.

** The yuan was quoted at 6.5992 per U.S. dollar at 08:11 GMT, 0.05 percent firmer than the previous close of 6.6028.

** So far this year, the Hang Seng index is up 35.75 percent, while China’s H-share index is up 26.8 percent. The Hang Seng has risen 5.74 percent this month.

** The top gainers among H-shares were China Shenhua Energy Co Ltd up 0.82 percent, followed by PetroChina Co Ltd gaining 0.37 percent and China Petroleum & Chemical Corp up by 0.18 percent.

** The three biggest H-shares percentage decliners were New China Life Insurance Co Ltd which was down 4.12 percent, Byd Co Ltd which fell 3.4 percent and China Merchants Bank Co Ltd down by 3.4 percent.

** About 1.53 billion Hang Seng index shares were traded, roughly 79.7 percent of the market’s 30-day moving average of 1.92 billion shares a day. The volume traded in the previous trading session was 1.58 billion.

** At close, China’s A-shares were trading at a premium of 30.21 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Kim Coghill)

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