July 10, 2018 / 9:02 AM / in a month

Hong Kong stocks flat; China June inflation accelerates

* HK->Shanghai Connect daily quota used 1 pct

* HSI flat, HSCE +0.5 pct, CSI300 +0.2 pct

* HSI financial sector sub-index flat

July 10 (Reuters) - Hong Kong shares ended Tuesday roughly flat on Tuesday, as China’s June inflation accelerated, showing little impact from the escalating trade frictions with the United States, which threaten to hurt Chinese exports and dampen business sentiment.

** The Hang Seng index was unchanged at 28,682.25, while the China Enterprises Index gained 0.5 percent, to 10,824.97 points.

** China’s producer inflation accelerated to a six-month high in June, while annual consumer inflation also edged up as food prices rose at a faster pace, official data showed on Tuesday.

** The sub-index of the Hang Seng tracking energy shares rose 1.4 percent while the IT sector dipped 2.07 percent, the financial sector was 0.38 percent higher and property sector dipped 0.04 percent. ** The top gainer on Hang Seng was CNOOC Ltd up 2.52 percent, while the biggest loser was China Mengniu Dairy Co Ltd which was down 3.93 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.09 percent while Japan’s Nikkei index closed up 0.66 percent. ** The yuan was quoted at 6.629 per U.S. dollar at 08:42 GMT, 0.26 percent weaker than the previous close of 6.6117. ** The top gainers among H-shares were Anhui Conch Cement Co Ltd up 3.11 percent, followed by Postal Savings Bank of China Co Ltd gaining 2.83 percent and CNOOC Ltd up by 2.52 percent. ** The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd which was down 4.84 percent, Guangdong Investment Ltd which fell 3.8 percent and China Gas Holdings Ltd down by 3.6 percent. ** About 1.72 billion Hang Seng index shares were traded, roughly 80.8 percent of the market’s 30-day moving average of 2.13 billion shares a day. The volume traded in the previous trading session was 1.94 billion. ** At close, China’s A-shares were trading at a premium of 21.58 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 11.26 as of the last full trading day while the dividend yield was 3.3 percent. (Reporting by Shanghai Newsroom; Editing by Sunil Nair)

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