January 26, 2016 / 8:12 AM / 11 days ago

Hong Kong stocks pare gains as weak China economic data bites

* HK->Shanghai Connect daily quota used -0.7%, Shanghai->HK daily quota used 7.4%

* HSI +0.1%, HSCE +0.2%, CSI300 +0.5%

* FTSE China A50 +0.4%

SHANGHAI, Aug 14 (Reuters) - Hong Kong stocks trimmed early gains to end slightly firmer on Wednesday, as bleak China economic data overshadowed U.S. President Donald Trump’s trade concession, while protests continued to roil the island city.

** The Hang Seng index ended up 0.1% at 25,302.28, while the China Enterprises Index gained 0.2% to 9,866.18.

** The benchmark HSI started the day 1.7% higher, after Washington delayed tariffs on some Chinese imports.

** U.S. President Donald Trump on Tuesday backed off his Sept. 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods, in the hopes of blunting their impact on U.S. holiday sales.

** China’s economy stumbled more sharply than expected in July, with industrial output growth cooling to a more than 17-year low, as the intensifying U.S. trade war took a heavier toll on businesses and consumers.

** Activity in China has continued to cool despite a flurry of growth steps over the past year, raising questions over whether more rapid and forceful stimulus may be needed, even if it risks racking up more debt.

** Worries also persisted over the protests that threatened to hit the island city’s economy.

** China’s Hong Kong Liaison office said on Wednesday that anti-government protesters were no different to “terrorists”, as Trump said Chinese troops were moving to the border with Hong Kong and urged calm.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.61%, while Japan’s Nikkei index closed up 0.98%.

** The yuan was quoted at 7.0135 per U.S. dollar at 0815 GMT, 0.6% firmer than the previous close of 7.0558.

** The top gainers among H-shares were ANTA Sports Products Ltd up 2.81%, followed by Longfor Group Holdings Ltd , gaining 2.81% and Tencent Holdings Ltd, climbed by 2.46%.

** The three biggest H-shares percentage decliners were SINOPHARM GROUP CO LTD, which closed down 3.04%, Huatai Securities Co Ltd, which ended 2.60% lower and Guangzhou Automobile Group Co Ltd, down by 2.19%.

** At close, China’s A-shares were trading at a premium of 32.60% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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