Hong Kong stocks ended on flat ground last Wednesday as emerging concerns over the possibility of Sino-US trade agreement brought market tension.
The Hang Seng index sunk down 0.4% to 26,667.71 all while the China Enterprises Index hit 0.6% gains to 10, 479.09
The anticipated trade pact agreement between US and China is still in progress and might not make it in time for the signing in Chile next month. Though this is the case, US administration clarified that the treaty is still intact and not falling apart.
In Beijing, foreign ministry spokesman Geng Shuang stated that both countries’ trade negotiators will go for another telephone conversation as working-level consultations work rapidly.
“It is China’s hope that the two sides can find a way to resolve the economic and trade issues on the basis of mutual respect, equality and mutual benefit,” he told during a daily briefing on Wednesday.
Majority of Chinese sectors failed to perform well as energy and financial firms suffered the most.
Across the region, MSCI’s Asia ex-Japan stock index was down with 0.22% and Japan’s Nikkei fell short with 0.57%. The Yuan was estimated at 7.0588 per US dollar at 08:14 GMT, 0.1% steadier than its previous session of 7.0656.
The highest earners among H-shares were CSPC Pharmaceutical Group Ltd which tallied 5.94% followed by China Life Insurance Co Ltd. at 1.57% and ANTA Sports Products LTD’s 1.54% upsurge.
Byd Co Ltd, China Pacific Insurance Group Co Ltd, and PetroChina Co Ltd were recorded to be the session’s top decliners as they plummeted down with 5.56%, 2.56%, and 1.96% respectively.
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