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Hong Kong stocks slip as investors await trade developments

Reuters Ho
Updated: 04-07-2019 14:07 IST
Hong Kong stocks slip as investors await trade developments

Image Credit: Pixabay

Hong Kong stocks ended lower on Thursday, amid thin trade, as investors awaited developments around Sino-U.S. trade talks. The Hang Seng index fell 0.2%, to 28,795.77, while the China Enterprises Index lost 0.1%, to 10,913.39. Top representatives of the United States and China are organising a resumption of talks for next week to try to resolve a year-long trade war between the world's two largest economies, Trump administration officials said on Wednesday.

Existing U.S. tariffs will have to be removed if there is to be a trade deal between Beijing and Washington, China's commerce ministry said on Thursday. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.23%, while Japan's Nikkei index closed up 0.3%. The yuan was quoted at 6.8704 per U.S. dollar at 08:14 GMT, 0.16% firmer than the previous close of 6.8815. The top gainers among H-shares were China Gas Holdings Ltd up 5.56%, followed by ENN Energy Holdings Ltd , gaining 5.46% and China Vanke Co Ltd, up by 2.27%.

The three biggest H-shares percentage decliners were Haitong Securities Co Ltd, which was down 2.10%, CITIC Securities Co Ltd, which fell 1.79% and Byd Co Ltd, down by 1.74%. About 957.16 million Hang Seng index shares were traded, roughly 54.6% of the market's 30-day moving average of 1.75 billion shares a day. The volume traded in the previous trading session was 1.33 billion. At close, China's A-shares were trading at a premium of 29.00% over Hong Kong-listed H-shares.

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