June 8, 2018 / 8:39 AM / 3 months ago

HK stocks fall ahead of next week's Trump-Kim summit, Fed meeting

* Hang Seng index ends down 1.8 pct

* China Enterprises index HSCE falls 2 pct

* HSI financial sector sub-index 1.6 pct lower; property sector down 1 pct

June 8 (Reuters) - Hong Kong stocks fell the most in two weeks on Friday, as investors braced for a series of market-moving events next week including the U.S.-North Korea summit and the Federal Reserve’s policy meeting.

** The Hang Seng index fell 1.8 percent, to 30,958.21, while the China Enterprises Index lost 2.0 percent, to 12,165.79 points.

**The sub-index of Hang Seng tracking energy shares dipped 1.7 percent, the IT sector fell 2.92 percent, the financial sector was 1.61 percent lower and the property sector declined 1.02 percent. ** The top gainer on Hang Seng was Swire Pacific Ltd, up 0.06 percent, while the biggest loser was China Unicom Hong Kong Ltd, which was down 4.97 percent.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.36 percent, while Japan’s Nikkei index closed down 0.56 percent. ** The yuan was quoted at 6.4115 per U.S. dollar at 08:19 GMT, 0.29 percent weaker than the previous close of 6.3931. ** As of the previous trading session, the Hang Seng index was up 5.33 percent this year, while China’s H-share index was up 6.0 percent. As of the previous close, the Hang Seng has risen 3.43 percent this month. ** The top gainers among H-shares were Sinopharm Group Co up 0.7 percent, followed by China Railway Group Ltd . ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, which was down 7.96 percent, China Vanke Co Ltd, which fell 4.2 percent, and ZhongAn Online P & C Insurance Co Ltd, down by 4.1 percent. ** About 1.77 billion Hang Seng index shares were traded, roughly 101 percent of the market’s 30-day moving average of 1.76 billion shares a day. The volume traded in the previous trading session was 2.00 billion. ** At close, China’s A-shares were trading at a premium of 16.95 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.38 as of the last full trading day while the dividend yield was 3 percent. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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