Hong Kong Stocks down at 3-week low due to political instability and after trade talks exchanged between Washington and Beijing. The talks diminished hopes of relaxed trade practices as reported by Reuters.
There was a decline of 1.3% for the Hang Seng Index and it ended at 25,945.35. These levels have been the lowest since the 4th of September. The Hang Seng China Enterprise Index fell by 1% to 10,168.78, FTSE China A50 by 0.3% and the CSI 300 by 0.8%
The U.S. President Donald Trump said at the U.N. General Assembly that he is not going to accept a “bad deal” in the U.S.-Sino trade talks.
A Chinese Diplomat replied to this by saying that China has no interest in “playing the Game of Thrones on the world stage.” It respects as to what the U.S. wants but it cannot allow external interference in its domestic matters(including Hong Kong). He added that China would not be provoked or be threatened by trade deals/actions as well.
MSCI’s Asia ex-Japan stock index declined by 0.95%. Japan’s Nikkei index fell by 0.36%.
At 0815 GMT on Wednesday Yuan was quoted at 7.1246/USD.This is lower by 0.12% as compared to the previous close by 7.116.
The highlighted gainers among the shares of Hong Kong were –
China Gas Holdings Ltd: 1.69%
ANTA Sports Products Ltd: 1.25%
Sunac China Holdings Ltd: 0.64%.
The highlighted decliners among the shares of Hong Kong were –
Byd Co Ltd: 4.07%,
CSPC Pharmaceutical Group Ltd – 3.94%
Geely Automobile Holdings Ltd – 3.11%.
China’s A-shares closed with a premium of 30.78% over Hong Kong-listed H-shares.