Hong Kong stocks track fall in other Asian markets

Reuters2021-05-13
  • HK->Shanghai Connect daily quota used -3.9%, Shanghai->HK daily quota used 7%
  • HSI -1.8%, HSCE -2.1%, CSI300 -1.0%
  • FTSE China A50 -1.1%

May 13 (Reuters) - Hong Kong stocks fell on Thursday, tracking a broad sell-off in other Asian markets amid worries over U.S. inflation.

At the close of trade, the Hang Seng index was down 512.37 points, or 1.81%, at 27,718.67. The Hang Seng China Enterprises index fell 2.05% to 10,339.99.

The sub-index of the Hang Seng tracking energy shares dipped 2.8%, while the IT sector dipped 3.11%, the financial sector ended 1.14% lower, the Hang Seng tech index dropped 3.3% and the property sector dipped 1.58%.

The top gainer on the Hang Seng was China Mengniu Dairy Co Ltd , which gained 2.86%, while the biggest loser was Techtronic Industries Co Ltd , which fell 9.49%.

Asian shares slipped to seven-week lows after a dismaying rise in U.S. inflation bludgeoned Wall Street and sent bond yields surging on worries the Federal Reserve might have to move early on tightening.

Tensions between Beijing and Washington added to the pressure.

The Chinese government has turned its western Xinjiang province into essentially an "open-air prison", a U.S. State Department official said on Wednesday as the department published a report that criticized China's treatment of religious minorities.

Bucking the retreat, mainland investors purchased a net 5 billion yuan ($774.75 million) worth of Hong Kong shares via the Stock Connect linking mainland and Hong Kong, according to Refinitiv data.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.37%, while Japan's Nikkei index closed down 2.49%.

The yuan was quoted at 6.4525 per U.S. dollar at 08:17 GMT, 0.08% firmer than the previous close of 6.4575.

At close, China's A-shares were trading at a premium of 37.97% over Hong Kong-listed H-shares.

($1 = 6.4537 Chinese yuan renminbi)

(Reporting by the Shanghai Newsroom; Editing by Vinay Dwivedi)

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Comments

  • keaty
    2021-05-14
    keaty
    Roller coaster is the game?
  • NickyBoy
    2021-05-13
    NickyBoy
    Wow that's alot...
  • LawranceHui
    2021-05-13
    LawranceHui
    Good
  • happyfarmer
    2021-05-13
    happyfarmer
    SG mkt is closed today, public holiday. Lucky?
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