December 15, 2017 / 8:20 AM / a year ago

Hong Kong stocks fall 1 pct, property and IT firms weigh

Dec 15 (Reuters) - Hong Kong stocks fell on Friday, led down by property and information technology firms tracking their mainland peers, with sentiment dented by Wall Street’s weakness on concerns about the progress of U.S. tax reform. ** At close of trade, the Hang Seng index was down 318.27 points or 1.09 percent at 28,848.11. The Hang Seng China Enterprises index fell 1.44 percent to 11,365.92. **The sub-index of the Hang Seng tracking energy shares dipped 1.2 percent while the IT sector dipped 1.71 percent, the financial sector was 1.22 percent lower and property sector dipped 0.8 percent. ** The top gainer on Hang Seng was Galaxy Entertainment Group Ltd up 1.48 percent, while the biggest loser was Country Garden Holdings Company Ltd which was down 2.85 percent. ** China’s main Shanghai Composite index closed down 0.8 percent at 3,266.1503 points while its blue-chip CSI300 index ended down 1.12 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.41 percent while Japan’s Nikkei index closed down 0.62 percent. ** The yuan was quoted at 6.607 per U.S. dollar at 08:11 GMT, 0.04 percent firmer than the previous close of 6.6095. ** So far this year, the Hang Seng index is up 32.57 percent, while China’s H-share index is up 22.7 percent. As of the previous close, the Hang Seng has declined 0.04 percent this month. ** The top gainers among H-shares were Zhuzhou CRRC Times Electric Co Ltd up 1.28 percent, followed by China Railway Group Ltd gaining 0.17 percent and New China Life Insurance Co Ltd up by -0.29 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd which was down 4.94 percent, Guangzhou Automobile Group Co Ltd which fell 3.4 percent and Air China Ltd down by 2.9 percent. ** About 2.06 billion Hang Seng index shares were traded, roughly 103.7 percent of the market’s 30-day moving average of 1.99 billion shares a day. The volume traded in the previous trading session was 2.02 billion. ** At close, China’s A-shares were trading at a premium of 29.42 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 13.3 as of the last full trading day while the dividend yield was 3 percent. ** So far this week, the market capitalisation of the Hang Seng index has risen by 1.81 percent to HK$19.12 trillion. ** 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 1.09 percent on the day at 5,117.65 points. (Reporting by the Shanghai Newsroom; Editing by Jacqueline Wong)

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