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Hong Kong stocks post weekly loss after Fed's hawkish turn

Reuters2021-06-18

* HK->Shanghai Connect daily quota used -0.3%, Shanghai->HK daily quota used 3.2%

* HSI +0.9%, HSCE +0.5%, CSI300 +0.0%

* FTSE China A50 -0.8%

SHANGHAI, June 18 (Reuters) - Hong Kong stocks ended higher on Friday on the back of gains in tech and healthcare firms, but posted weekly losses after the U.S. Federal Reserve this week projected higher interest rates in 2023.

** At the close of trade, the Hang Seng index was up 242.68 points, or 0.85%, at 28,801.27. The Hang Seng China Enterprises index rose 0.54% to 10,646.39.

** Leading the gains, the Hang Seng tech index added 1.8%, while the Hang Seng healthcare index climbed 3.3%.

** The sub-index of the Hang Seng tracking energy shares dipped 2.9%, while the IT sector rose 1.58%, the financial sector ended 0.53% lower and the property sector dipped 0.35%.

** The top gainer on the Hang Seng was WuXi Biologics (Cayman) Inc , which gained 9.35%, while the biggest loser was China Resources Land Ltd , which fell 4.36%.

** For the week, the HSI eased 0.1%, while the HSCE shed 1%.

** Federal Reserve officials, increasingly confident the U.S. economy is recovering fast from the pandemic-induced recession, have begun telegraphing an exit from the central bank's extraordinarily easy monetary policy that so far is smoother and signaled to be speedier than when the reins were tightened after the last crisis.

** China's main Shanghai Composite index closed down 0.01% at 3,525.10 points, while the blue-chip CSI300 index ended up 0.01%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.05%, while Japan's Nikkei index closed down 0.19%.

** The yuan was quoted at 6.442 per U.S. dollar at 08:09, 0.11% firmer than the previous close of 6.449.

** At close, China's A-shares were trading at a premium of 38.04% over Hong Kong-listed H-shares.

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Comment20

  • jiahaoooooo
    ·2021-06-20
    Hm
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  • TeckYong
    ·2021-06-19
    Good articles 
    Reply
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  • cubedit
    ·2021-06-19
    Great! 
    Reply
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  • kaikai12456
    ·2021-06-18
    ...
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  • Swetash
    ·2021-06-18
    Pls like and comment 
    Reply
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  • JoshuaLiew
    ·2021-06-18
    This doesn’t look good 
    Reply
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    Fold Replies
    • EthanLiew
      I agree. Not Certain whats going to happen
      2021-06-19
      Reply
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  • Babyreddevil
    ·2021-06-18
    Sigh
    Reply
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  • Thomas9413
    ·2021-06-18
    Please like and comment 
    Reply
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  • Krisson
    ·2021-06-18
    China gas emo
    Reply
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    Fold Replies
    • dandan_4896
      I trying to reach mythic 2 lol, i now 344/400 liao
      2021-06-18
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  • EdLee
    ·2021-06-18
    V shape recovery 
    Reply
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  • Fishman87
    ·2021-06-18
    Sad
    Reply
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  • TehTarik
    ·2021-06-18
    like n comment!
    Reply
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  • ericlcx
    ·2021-06-18
    Hmm
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  • 梁娜娜本人
    ·2021-06-18
    Wow 
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  • Alvinkiang
    ·2021-06-18
    Wow
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  • Fobrogo101
    ·2021-06-18
    That’s great
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  • DesmondChin
    ·2021-06-18
    For the day,and it rebound
    Reply
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  • JonChuask
    ·2021-06-18
    Oh no
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  • Jordlee88
    ·2021-06-18
    Like my comment pls 
    Reply
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  • Jordlee88
    ·2021-06-18
    Wow really 
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