for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Hong Kong stocks fall as materials, property sectors drag

* HK->Shanghai Connect daily quota used 4.4%, Shanghai->HK daily quota used 6.3%

* HSI -0.7%, HSCE -0.8%, CSI300 +0.7%

* FTSE China A50 +1.1%

Nov 19 (Reuters) - Hong Kong stocks ended lower on Thursday, pressured by the materials and property sectors, but stronger consumer firms capped losses after news of Beijing’s pledge to boost domestic consumption to salvage a pandemic-ravaged economy.

** At the close of trade, the Hang Seng index was down 187.32 points, or 0.71%, at 26,356.97. The Hang Seng China Enterprises index fell 0.8% to 10,555.36.

** The Hang Seng materials index declined 1.5% while the properties and construction sector lost 1.1%.

** The subindex of the Hang Seng tracking energy shares dipped 0.5%, while the IT sector dropped 1.61%. The financial sector ended 1% lower.

** The top gainer on the Hang Seng was Xiaomi Corp , which added 5%, while the biggest loser was Tencent Holdings Ltd, down 2.72%.

** Still, gains in consumer stocks limited losses, with the Hang Seng consumer staples index and consumer discretionary index closing 1.2% and 1% higher, respectively.

** China will expand consumption of cars and consumption in rural areas, according to a report by state broadcaster CCTV, citing a meeting of the country’s cabinet chaired by Premier Li Keqiang.

** China will also promote the consumption of home appliances and catering, CCTV reported.

** China’s main Shanghai Composite index closed 0.47% higher at 3,363.09 points, while the blue-chip CSI300 index ended up 0.74%.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.51%, while Japan’s Nikkei index closed down 0.36%.

** The yuan was quoted at 6.58 per U.S. dollar at 0811 GMT, 0.32% weaker than the previous close of 6.559.

** At close, China’s A-shares were trading at a premium of 41.50% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Devika Syamnath)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up