May 22, 2019 / 8:37 AM / 4 months ago

Hong Kong stocks end higher, but trade tensions cap gains

* 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 rose 0.2%, to 27,705.94 points, while the China Enterprises Index 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 was firmer by 0.17%, while Japan’s Nikkei index closed up 0.05%.

** The yuan 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, up 1.94%, followed by China Tower Corp Ltd , gaining 1.69%, and China Telecom Corp Ltd, up by 0.77%.

** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which was down 1.83%, Hengan International Group Company Ltd, which fell 1.7%, and China Communications Construction Co Ltd , 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)

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