Hang Seng falls for 6th day amid worries about China's economy, trade war
Sept 12 (Reuters) - Hong Kong's benchmark stock index
extended its fall to a sixth straight day on Wednesday, weighed
by consumer and service sectors, as worries about China's
economic health and the broadening Sino-U.S. trade war continue
to curb risk appetite.
** The Hang Seng index fell 0.3 percent, to 26,345.04,
while the China Enterprises Index lost 0.9 percent, to
** Chinese Vice Premier Hu Chunhua on Wednesday called for a
rejection of protectionism and said unilateral trade policies by
some countries posed a "most serious hazard" to the world
** Underlining the vulnerability of China's economy to an
escalating Sino-U.S. trade war, China is expected to report
investment growth hovered at record lows in August and retail
sales were among the weakest since 2003.
** The main index was dragged lower by the consumer
and services sectors, which lost over 2 percent each.
** The sub-index of the Hang Seng tracking energy shares
rose 0.6 percent, while the IT sector dipped
0.18 percent, the financial sector was 0.38 percent
lower and property sector rose 0.33 percent.
** Around the region, MSCI's Asia ex-Japan stock index
was weaker by 0.16 percent, while Japan's Nikkei
index closed down 0.27 percent.
** The yuan was quoted at 6.8675 per U.S. dollar at
08:20 GMT, 0.06 percent firmer than the previous close of
** The top gainers among H-shares were Great Wall Motor Co Ltd
up 3.45 percent, followed by CGN Power Co Ltd
, gaining 2.31 percent and China Gas Holdings Ltd
, up by 1.5 percent.
** The three biggest H-shares percentage decliners were CSPC
Pharmaceutical Group Ltd, which was down 10.16
percent, China Huarong Asset Management Co Ltd, which
fell 2.8 percent and Dongfeng Motor Group Co Ltd, down
by 2.7 percent.
** The price-to-earnings ratio of the Hang Seng index was 10.18
as of the last full trading day while the dividend yield was 3.6
(Reporting by the Shanghai Newsroom; Editing by Sunil Nair)2018-09-12 10:34:18
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