Hong Kong stocks fall on fresh protests, rising Sino-U.S. tensions

Hong Kong stocks fell on Wednesday due to fresh anti-government protests and rising tensions between China and the United States. ** The Hang Seng index fell 0.4%, to 23,301.36, while the China Enterprises Index lost 0.3%, to 9,567.43 points.

** Hong Kong riot police fired pepper pellets to disperse protesters in the heart of the global financial center, where Beijing's proposed national security laws have revived anti-government demonstrations. ** U.S. President Donald Trump said on Tuesday that he was preparing a strong response to China's planned national security laws for Hong Kong, adding it would be announced before the end of the week.

** Investors are also closely monitoring the pace of China's economic recovery from the depth of the coronavirus crisis. Profits at the country's industrial firms fell at a slower pace in April, but the economy faces persistent pressure as activity and demand remain weak. ** The sub-index of the Hang Seng tracking energy shares rose 0.6%, while the IT sector dipped 1.69%. the financial sector ended 0.03% higher and the property sector dipped 0.72%.

** The top gainer on the Hang Seng was CSPC Pharmaceutical Group Ltd, which gained 6.68%, while the biggest loser was CK Infrastructure Holdings Ltd, which fell 3.26%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.06%, while Japan's Nikkei index closed up 0.7%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)