February 5, 2018 / 8:34 AM / in 9 months

Hong Kong stock fall, but bigger losses pared as investors seek bargains

* Hang Seng index ends down 1.1 pct

* China Enterprises index HSCE falls 0.4 pct

* HSI financial sector sub-index is 0.6 pct lower; property sector down 1.8 pct

Feb 5 (Reuters) - Hong Kong stocks ended lower on Monday but recouped much of their earlier losses sparked by a slide on Wall Street, as investors hunted for bargains via the Stock Connect linking the mainland and Hong Kong. ** The southbound quota of the Stock Connect linking Shanghai and Hong Kong was 71.9 percent used - the biggest percentage for a day since April 2015 - as investors bought banking and airline shares that also outperformed on the mainland market.

** Sentiment was also lifted by a private survey showing China’s services sector got off to a flying start in 2018, expanding at its fastest pace in almost six years. ** The Hang Seng index slumped as much as 2.7 percent before ending lower 356.56 points or 1.09 percent at 32,245.22. The Hang Seng China Enterprises index fell 0.43 percent to 13,479.83. **The sub-index of the Hang Seng tracking energy shares dipped 2.5 percent while the IT sector dipped 2.11 percent, the financial sector was 0.64 percent lower and property sector dipped 1.83 percent. ** The top gainer on Hang Seng was AAC Technologies Holdings Inc up 4.32 percent, while the biggest loser was Sino Land Co Ltd which was down 3.42 percent. ** China’s main Shanghai Composite index closed up 0.73 percent at 3,487.3847 points while its blue-chip CSI300 index ended up 0.06 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.47 percent while Japan’s Nikkei index closed down 2.55 percent . ** The yuan was quoted at 6.2942 per U.S. dollar at 08:10 GMT, 0.08 percent firmer than the previous close of 6.299. ** As of the previous trading session, the Hang Seng index was up 8.97 percent this year, while China’s H-share index was up 15.6 percent. As of the previous close, the Hang Seng has declined 0.87 percent this month. ** The top gainers among H-shares were China Citic Bank Corp Ltd up 4.49 percent, followed by Air China Ltd gaining 3.05 percent and Guangzhou Automobile Group Co Ltd up by 2.17 percent. ** The three biggest H-shares percentage decliners were Zhuzhou CRRC Times Electric Co Ltd which was down 3.32 percent, China Petroleum & Chemical Corp which fell 2.9 percent and China Shenhua Energy Co Ltd, down by 2.7 percent. ** About 3.23 billion Hang Seng index shares were traded, roughly 125.4 percent of the market’s 30-day moving average of 2.58 billion shares a day. The volume traded in the previous trading session was 2.65 billion. ** At close, China’s A-shares were trading at a premium of 32.91 percent over the Hong Kong-listed H-shares. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 1.1 percent on the day at 4,570.53 points. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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