July 26, 2018 / 8:26 AM / 20 days ago

Hong Kong stocks slip amid renewed trade worries

* Hang Seng index ends down 0.5 pct

* China Enterprises index HSCE falls 0.5 percent

* HSI financial sector sub-index flat

SHANGHAI, July 26 (Reuters) - Hong Kong stocks slipped on Thursday as renewed trade worries prompted caution among investors after a four-day winning streak. ** The Hang Seng index fell 0.5 percent to 28,781.14 points, while the China Enterprises Index lost 0.5 percent, to 11,021.35 points, both snapping a four-day winning streak. ** China’s state planner vowed on Wednesday to prevent extensive job losses across the economy and keep unemployment below existing thresholds as trade friction with the United States created uncertainty in the labour market. ** U.S. President Donald Trump accused China on Wednesday of targeting American farmers in a “vicious” way and using them as leverage to get concessions on trade a day after the administration announced a $12 billion farm aid package. ** The prospect of weaker growth has prompted a loosening of fiscal policy in China as authorities seek to head off a slowdown. Most recently, China’s central bank gave notice to some domestic banks that it would ease a capital requirement to support lending. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.14 percent while Japan’s Nikkei index closed down 0.12 percent. ** The yuan was quoted at 6.783 per U.S. dollar at 08:10 GMT, 0.28 percent weaker than the previous close of 6.7638. ** As of the previous trading session, the Hang Seng index was down 3.34 percent this year, while China’s H-share index was down 5.4 percent. As of the previous close, the Hang Seng has declined 0.12 percent this month. ** The top gainers among H-shares were China Gas Holdings Ltd up 1.61 percent, followed by Sinopharm Group Co Ltd gaining 1.53 percent and Guangdong Investment Ltd up by 1.2 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd which was down 3.84 percent, Huatai Securities Co Ltd which fell 2.8 percent and Great Wall Motor Co Ltd down by 2.5 percent. ** About 1.46 billion Hang Seng index shares were traded, roughly 71.9 percent of the market’s 30-day moving average of 2.03 billion shares a day. The volume traded in the previous trading session was 1.68 billion. ** At close, China’s A-shares were trading at a premium of 17.72 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 11.35 as of the last full trading day while the dividend yield was 3.2 percent. ** So far this week, the market capitalisation of the Hang Seng index has risen by 2.48 percent to HK$18.79 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 0.48 percent on the day at 4,916.42 points. (Reporting by the Shanghai Newsroom; Editing by Sunil Nair)

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