October 3, 2018 / 9:08 AM / 8 months ago

Hong Kong stocks hit 2-week closing low

* HSI down 0.1 pct, H-shares gained 0.3 pct

* Volume down 40 pct from Tuesday

By Noah Sin

HONG KONG, Oct 3 (Reuters) - Hong Kong’s shares closed at their lowest in two weeks on Wednesday, as investors remained on the sidelines during the National Day holiday in China. However, a rebound in offshore yuan helped the market trim losses after Tuesday’s sell-off. ** China’s financial markets are closed for the National Day holiday and will resume trade on Oct. 8.

** The Hang Seng Index closed 0.13 percent lower at 27,091.26, its lowest since Sept. 18. Chinese H-shares listed in Hong Kong ended 0.29 percent firmer at 10,786.17.

** Traders say many investors took a more cautious approach after the sell-off in the previous session. Volume was down to HK$67bn from HK$90bn on Tuesday. ** A slightly stronger offshore yuan helped calm the market. The currency traded around 6.88 on Wednesday, after touching 6.90 on Tuesday afternoon. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.12 percent, while Japan’s Nikkei index dropped 0.66 percent.

** The top gainers among H-shares were China Gas Holdings Ltd , which ended 4.21 percent higher, followed by Dongfeng Motor Group Co Ltd, which closed up 3.42 percent and CRRC Corp Ltd, which ended 3.01 percent firmer. ** The three biggest H-shares percentage decliners were ZhongAn Online P & C Insurance Co Ltd, which ended 2.12 percent weaker, Shenzhou International Group Holdings Ltd , which closed down 1.70 percent and CSPC Pharmaceutical Group Ltd, which ended 1.22 percent down. ** The sub-index of the Hang Seng index tracking energy shares rose 0.36 percent, while the IT sector slipped 0.32 percent. The top gainer in Hang Seng was Swire Pacific Ltd, which ended 4.84 percent firmer, while the biggest loser was AIA Group Ltd, which closed down 2.59 percent.

Reporting by Noah Sin, Editing by Sherry Jacob-Phillips

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