April 26, 2018 / 8:42 AM / 3 months ago

HK stocks fall as U.S. probe of Huawei batters China tech shares

* Hang Seng index ends down 1.1 pct, led by tech stocks

* China Enterprises index HSCE falls 1.2 percent

* HSI financial sector sub-index is 1.1 percent lower; property sector down 0.6 percent

April 26 (Reuters) - Hong Kong shares fell on Thursday as Chinese technology companies listed in the city tumbled after a U.S. probe of Huawei deepened fears that the sector could suffer from rising trade tensions between Beijing and Washington. ** The Hang Seng index fell 1.1 percent to 30,007.68, while the China Enterprises Index lost 1.2 percent, to 11,949.38.

** U.S. prosecutors in New York have been investigating whether Chinese technology company Huawei violated U.S. sanctions in relation to Iran, according to sources familiar with the situation. The technology sector in Hong Kong fell by 1.6 percent, led by Chinese companies including Chinasoft International, Kingdee International and Lenovo Group. ** At close of trade, the Hang Seng index was down 320.47 points. The Hang Seng China Enterprises index fell 1.2 percent to 11949.38. ** The sub-index of the Hang Seng tracking energy shares dipped 1.5 percent while the IT sector dipped 1.61 percent, the financial sector was 1.08 percent lower and property sector dipped 0.59 percent . ** The top gainer on Hang Seng was WH Group Ltd up 1.28 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd which was down 6.97 percent. ** In China, the blue-chip CSI300 index closed down 1.9 percent at 3,755.49, its worst day in a month, while the Shanghai Composite Index lost 1.4 percent to 3,075.03. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.25 percent while Japan’s Nikkei index closed up 0.47 percent. ** The yuan was quoted at 6.331 per U.S. dollar at 08:23 GMT, 0.06 percent weaker than the previous close of 6.327. ** As of the previous trading session, the Hang Seng index was up 1.37 percent this year, while China’s H-share index was up 3.3 percent. As of the previous close, the Hang Seng has risen 0.78 percent this month. ** The top gainers among H-shares were Great Wall Motor Co Ltd up 3.32 percent, followed by Guangdong Investment Ltd gaining 1.62 percent and China Communications Construction Co Ltd up by 1.14 percent. ** The three biggest H-shares percentage decliners were ZhongAn Online P & C Insurance Co Ltd which was down 4.70 percent, China Vanke Co Ltd which fell 4.1 percent and Ping An Insurance Group Co of China Ltd down by 3.8 percent. ** About 1.82 billion Hang Seng index shares were traded, roughly 99.4 percent of the market’s 30-day moving average of 1.83 billion shares a day. The volume traded in the previous trading session was 1.73 billion. ** At close, China’s A-shares were trading at a premium of 22.09 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.43 as of the last full trading day while the dividend yield was 3.2 percent. (Reporting by the Shanghai Newsroom; Editing by Gopakumar Warrier)

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