Staff of Reuters 2 Minute Read* HK->Shanghai Connect daily quota used 100%, Shanghai->HK daily quota used -1.70% * FTSE China A50 is up 0.5%. 30 JUNE (Reuters) – On Wednesday, Hong Kong stocks fell as energy and IT companies retreated following disappointing Chinese factory activity data, but they still posted quarterly gains. * The Hang Seng index was down 166.15 points, or 0.57 percent, at 28,827.95 at the close of trading. To 10,663.39, the Hang Seng China Enterprises index fell 0.87 percent. * * The Hang Seng sub-index that tracks energy stocks fell 0.9 percent, while the IT sector fell 0.82 percent, the financial sector fell 0.3 percent, and the real estate sector fell 1.02 percent. * * Galaxy Entertainment Group Ltd was the top gainer on the Hang Seng, up 4.37 percent, while Hengan International Group Company Ltd was the biggest loser, down 4.41 percent. * HSI rose 1.8 percent in the quarter, while HSCE fell 2.8 percent. * Higher raw material costs, a lack of semiconductors, and a COVID-19 outbreak in China’s important export region of Guangdong, along with wider supply chain disruptions in Asia, dragged down June manufacturing activity to a four-month low. * Hutchmed China Ltd, a developer and manufacturer of cancer and immunology drugs, opened at HK$59.80 in Hong Kong, up 49.1% from the offer price. * Nayuki Holdings Ltd, a Chinese company that sells freshly prepared tea drinks, lost 13.5 percent of its IPO price on its first day of trading.** MSCI’s Asia ex-Japan stock index fell 0.02 percent, while Japan’s Nikkei index fell 0.07 percent. ** At 08:15 a.m., the yuan was trading at 6.4598 per US dollar, up 0.06 percent from the previous closing of 6.464. China’s A-shares were trading at a 38.89 percent premium to Hong Kong-listed H-shares at the closing. (Shanghai Newsroom contributed reporting; Rashmi Aich edited the piece.) Continue reading
