International Development News
Development News Edition
Give Feedback

Hong Kong stocks fall in line with broader Asia on trade, slowdown worries


Reuters
Updated: 11-04-2019 14:00 IST
Hong Kong stocks fall in line with broader Asia on trade, slowdown worries

Hong Kong stocks fell on Thursday, in line with broader Asia, as trade tensions between the United States and the European Union added to worries over global economic outlook.

** The Hang Seng index fell 0.9 percent, to 29,839.45, while the China Enterprises Index lost 1.2 percent, to 11,618.04. The Hang Seng index closed lower for a second straight session after hitting a 10-month high on Tuesday. ** In a fresh escalation of trade tensions, U.S. President Donald Trump has threatened new tariffs on goods from the European Union even as the Sino-U.S. trade dispute remains unresolved.

** European Central Bank President Mario Draghi raised the prospect of more support for the struggling euro zone economy on Wednesday if its slowdown persisted, saying the central bank had "plenty of instruments" with which to react. ** That came after the International Monetary Fund's warning that the global economy was slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.56 percent, while Japan's Nikkei index closed up 0.11 percent. ** The yuan was quoted at 6.7166 per U.S. dollar at 08:14 GMT, 0.01 percent weaker than the previous close of 6.7158.

** About 1.96 billion Hang Seng index shares were traded, roughly 102.7 percent of the market's 30-day moving average of 1.90 billion shares a day. ** At close, China's A-shares were trading at a premium of 25.37 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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