Hong Kong shares finished flat on Friday, after touching their lowest levels since July last year, amid concerns that a new set of Sino-US tariffs could come into effect after the deadline for a public comment period for proposed tariffs passed.
The Hang Seng index ended down just 1.35 points at 26,973.47, while the China Enterprises Index closed 0.18 percent lower at 10,559.54 points. The Trump administration is ready to move ahead with a next round of tariffs on $200 billion worth of Chinese imports after a public comment period ended at midnight in Washington on Thursday (0400 GMT Friday), but the timing is uncertain, people familiar with the administration's plans told Reuters.
China has warned of retaliation if the United States introduces new tariffs, a commerce ministry spokesman said on Thursday. The sub-index of the Hang Seng tracking energy shares ended 1 percent higher, while the IT sector closed 0.48 percent firmer, the financial sector ended 0.43 percent lower and property sector closed down 0.09 percent.
The top gainer on the Hang Seng was China Merchants Port Holdings Co Ltd, which ended 4.95 percent firmer, while the biggest loser was Galaxy Entertainment Group Ltd, which closed down 3.79 percent. As of previous trading session, the Hang Seng index was down 9.84 percent this year, while China's H-share index was down 9.7 percent. As of previous close, the Hang Seng slipped 3.28 percent this month.
The top gainers among H-shares were CNOOC Ltd up 3.13 percent, followed by Hengan International Group Company Ltd, gaining 2.66 percent and CSPC Pharmaceutical Group Ltd, up by 1.59 percent.
Comments
Comments are closed.