September 28, 2018 / 8:57 AM / 8 months ago

HK shares edge up as trade war fears ease; China economic worries linger

Sept 28 (Reuters) - Hong Kong shares edged higher on Friday as trade war fears eased, but investor sentiment remained cautious over China’s economic health.

** The Hang Seng index rose 0.3 percent, to 27,788.52 while the China Enterprises Index gained 0.7 percent to 11,017.87 points.

** U.S. President Donald Trump’s administration started levying additional tariffs on $200 billion of Chinese goods on Monday. Beijing retaliated with fresh tariffs on $60 billion of U.S. products, and has unveiled a raft of stimulus measures to support consumption and economic growth.

** However, economic concerns continued to linger. China’s manufacturing sector likely resumed its slowdown in September after taking a pause in August, with exporters facing growing strains from increasingly hostile trade ties with the United States, a Reuters poll showed.

** Meanwhile, Hong Kong private home prices fell for the first time in 29 months in August and are expected to soften further as interest rates rise and the Sino-U.S. trade war clouds the outlook for the city’s economy.

** The sub-index of the Hang Seng tracking energy shares rose 2 percent while the IT sector dipped 0.62 percent and the financial sector was 0.36 percent higher. Property sector fell 1.17 percent. ** The top gainer on Hang Seng was CNOOC Ltd, up 3.75 percent, while the biggest loser was Country Garden Holdings Co Ltd, down 5.28 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was barely changed while Japan’s Nikkei index closed 1.36 percent higher. ** The yuan was quoted at 6.8854 per U.S. dollar at 08:45 GMT, 0.05 percent firmer than the previous close of 6.889. (Reporting by the Shanghai Newsroom; Editing by Vyas Mohan)

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