Hong Kong shares hit 14-month closing low, enter bear market territory

* Hang Seng index ends down 0.72 pct

* China Enterprises index HSCE falls 0.96 pct

* HSI financial sector sub-index ends 0.6 pct lower

Sept 11 (Reuters) - Hong Kong shares fell into bear market territory on Tuesday as the Hang Seng index ended at a near 14-month low, with investors around the region fearing further escalation in the Sino-U.S. trade war.

** The Hang Seng index ended down 0.72 percent at 26,422.55, its lowest close since July 14, 2017. The China Enterprises Index lost 0.96 percent to 10,333.16 points.

** Tuesday's close marks a fall of 20.3 percent from the year's
highest close on Jan. 26, and is 21.1 percent below the index's
52-week high recorded on Jan. 29, placing the Hang Seng firmly
in the bear-market territory.
** The sub-index of Hang Seng energy shares rose 0.5
percent while the IT sector dipped 1.46 percent. The
financial sector was 0.64 percent lower and property
sector rose 0.15 percent.
** Shares in Tencent Holdings Ltd ended 1.8 percent
lower, after touching their lowest level since July 31, 2017,
after China's biggest gaming and social media firm said a
popular game had been shut down amid a widening gaming crackdown
on the mainland.
** Shares of China Huarong Asset Management Co Ltd,
down 2.1 percent, hit their lowest level since their listing in
October 2015 after the company decided to withdraw its
application for an A-share offering.


** The top gainer on Hang Seng was Link Real Estate Investment
Trust, up 2.34 percent, while the biggest loser was
Galaxy Entertainment Group Ltd, which was down 5.69
percent.
** China's main Shanghai Composite index closed down
0.18 percent at 2,669.48 points while its blue-chip CSI300 index
ended down 0.18 percent.
** Around the region, MSCI's Asia ex-Japan stock index
was weaker by 0.29 percent while Japan's Nikkei
index closed 1.3 percent higher.
** The yuan was quoted at 6.8645 per U.S. dollar at
08:25 GMT, 0.13 percent weaker than the previous close of
6.8557.
** The top gainers among H-shares were CNOOC Ltd up
1.9 percent, followed by China Galaxy Securities Co Ltd
, up 1.14 percent, and CITIC Ltd, up 0.91
percent.
** The three biggest H-shares percentage decliners were Anhui
Conch Cement Co Ltd, down 3.91 percent, Air China Ltd
, down 3.6 percent, and Guangzhou Automobile Group Co
Ltd, down 3.4 percent.
** About 1.74 billion Hang Seng index shares were traded,
roughly 100.4 percent of the market's 30-day moving average of
1.73 billion shares a day. The volume traded in the previous
trading session was 2.11 billion.
** At close, China's A-shares were trading at a premium of 21.06
percent over the Hong Kong-listed H-shares.
** The price-to-earnings ratio of the Hang Seng index was 10.26
as of the last full trading day while the dividend yield was 3.6
percent.
** So far this week, the market capitalisation of the Hang Seng
index has fallen by 0.44 percent to HK$17.36 trillion.
** The short and one-factor leveraged Hang Seng index,
which is designed to replicate the payoff of a short or
leveraged portfolio and is linked to the movements of the Hang
Seng Index, was higher by 0.71 percent on the day at 5,308.37
points.


(Reporting by Andrew Galbraith; Editing by Vyas Mohan)

2018-09-11 10:42:40

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