April 17, 2019 / 8:57 AM / 6 months ago

Hong Kong stocks end flat after China's GDP data

* HK->Shanghai Connect daily quota used 0 pct, Shanghai->HK daily quota used 0.7 pct

* HSI +0.0 pct, HSCE +0.2 pct, CSI300 +0.0 pct

* FTSE China A50 -0.3 pct, BNY Mellon ADR China Select Index +0.0 pct

SHANGHAI, April 17 (Reuters) - Hong Kong stocks were little changed on Wednesday, even as China surprised with firm growth data for the first-quarter, as gains in consumer goods were offset by losses in telecom and real estate companies.

** The Hang Seng index was unchanged at 30,124.68 points and closed near a 10-month high, while the China Enterprises Index gained 0.2 percent, to 11,848.98 points.

** China’s economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.

** But, analysts warn it is too early to call a sustainable turnaround in China, and further policy support is needed to maintain momentum in the world’s second-largest economy. Many had expected a recovery only in the second half of 2019.

** Around the region, MSCI’s Asia ex-Japan stock index was higher by 0.19 percent, while Japan’s Nikkei index closed up 0.25 percent.

** The yuan quoted at 6.6904 per U.S. dollar at 08:15 GMT, 0.33 percent firmer than the previous close of 6.7128.

** The top gainers among H-shares were Byd Co Ltd up 13.43 percent, followed by Guangzhou Automobile Group Co Ltd , gaining 10.26 percent and Great Wall Motor Co Ltd , up by 9.89 percent.

** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, which was down 4.50 percent, CSPC Pharmaceutical Group Ltd, which fell 1.8 percent and China Vanke Co Ltd, down by 1.6 percent.

** About 2.10 billion Hang Seng index shares traded, roughly 111.4 percent of the market’s 30-day moving average of 1.88 billion shares a day. The volume traded in the previous trading session was 2.62 billion.

** At close, China’s A-shares were trading at a premium of 26.82 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Uttaresh.V)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below