Hong Kong stocks end higher, but trade tensions cap gains

Credit: REUTERS/BOBBY YIP

Hong Kong stocks edged higher on Wednesday, but gains were capped by rising trade worries following reports that the United States could blacklist another Chinese tech firm.

HK->Shanghai Connect daily quota used -2.1%, Shanghai->HK daily quota used 4.2%

HSI +0.2%, HSCE -0.3%, CSI300 -0.5%

FTSE China A50 -0.6%

May 22 (Reuters) - Hong Kong stocks edged higher on Wednesday, but gains were capped by rising trade worries following reports that the United States could blacklist another Chinese tech firm.

** The Hang Seng index .HSI rose 0.2%, to 27,705.94 points, while the China Enterprises Index .HSCE lost 0.3%, to 10,604.55 points.

** The U.S. administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision, media reports show, deepening worries that trade friction between the world's top two economies could be further inflamed.

** That came after the U.S. Commerce Department blocked Huawei Technologies Co Ltd from buying U.S. goods last week.

** Beijing is ready to resume trade talks with Washington, China's ambassador to the United States Cui Tiankai said, as a top U.S. business lobby in China said nearly half its members are seeing non-tariff barrier retaliation in China due to the trade war.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.17%, while Japan's Nikkei index .N225 closed up 0.05%.

** The yuan CNY=CFXS was quoted at 6.906 per U.S. dollar at 08:18 GMT, 0.05% weaker than the previous close of 6.9028.

** The top gainers among H-shares were Huatai Securities Co Ltd 6886.HK, up 1.94%, followed by China Tower Corp Ltd 0788.HK, gaining 1.69%, and China Telecom Corp Ltd 0728.HK, up by 0.77%.

** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd 2313.HK, which was down 1.83%, Hengan International Group Company Ltd 1044.HK, which fell 1.7%, and China Communications Construction Co Ltd 1800.HK, down by 1.5%.

** About 1.76 billion Hang Seng index shares were traded, roughly 98.9% of the market's 30-day moving average of 1.78 billion shares a day. The volume traded in the previous trading session was 2.30 billion.

** At close, China's A-shares were trading at a premium of 24.31% over Hong Kong-listed H-shares.

(Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More