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HK stocks hit six-month closing low as trade war fears persist (Review)


Friday, 22 June 2018 04:32 WIB

SahamHongkongIndeks Hang Seng


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Hong Kong stocks ended at a six-month low on Thursday, as China-U.S. trade conflict fears curbed risk appetite.

The Hang Seng index ended 1.4 percent lower at 29,296.05, while the China Enterprises Index closed lower by 1.2 percent at 11,364.66 points.

“Sino-U.S. trade tensions could further escalate,” said Gao Ting, Head of China Strategy, UBS Securities. “While the macro impact would likely be limited, the negotiation path is hard to predict, which could have a long-term negative impact on production and investment activities.”

The sub-index of the Hang Seng tracking energy shares dipped 1.5 percent, while the IT sector slipped 0.86 percent, the financial sector closed 1.36 percent lower and property sector lost 1.2 percent.

The top gainer on Hang Seng was Country Garden Services Holdings Company Ltd, which ended 15.3 percent higher, while the biggest loser was Sunny Optical Technology Group Co Ltd, which closed 8.91 percent down.


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