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Hong Kong stocks fall as tech, consumer firms weigh

04/12/2021 | 04:46am EDT

* HK->Shanghai Connect daily quota used 10.1%, Shanghai->HK daily quota used -3.4%

* HSI -0.9%, HSCE -0.9%, CSI300 -1.7%

* FTSE China A50 -1.2%

April 12 (Reuters) - Hong Kong stocks fell on Monday, tracking losses in the A-share market, as latest data pointed to signs of liquidity tightening on the mainland.

** At the close of trade, the Hang Seng index was down 245.52 points, or 0.86%, at 28,453.28. The Hang Seng China Enterprises index fell 0.93% to 10,874.83.

** Falling the most, the Hang Seng tech index and the Hang Seng consumer discretionary index dropped 1.6% and 2%.

** China's outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy, rose 12.3% to 294.55 trillion yuan ($44.95 trillion) at the end of March from a year earlier, the central bank said on Monday.

** In March, TSF rose to 3.34 trillion yuan from 1.71 trillion yuan in February. Analysts polled by Reuters had expected March TSF to rise to 3.7 trillion yuan.

** China's Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said on Monday, after regulators fined the e-commerce giant a record $2.75 billion for abusing its market dominance.

** Shares in Alibaba Group Holdings Ltd ended up 6.5%.

** "The government-regulatory bodies have been consistently making noises and actions in terms of pushing the overreach in terms of the regulation on to some of these larger e-commerce plays which are so impactful to the economy," said Andy Maynard, head of equities at China Renaissance in Hong Kong.

** "I think a lot of people have probably priced this in. And to a degree, though it's a big number, it's not a big number for them," he added.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.07%, while Japan's Nikkei index closed down 0.77%. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AAC TECHNOLOGIES HOLDINGS INC. -2.35% 41.55 End-of-day quote.-4.26%
ALIBABA GROUP HOLDING LIMITED -0.49% 225.31 Delayed Quote.-3.19%
ANTA SPORTS PRODUCTS LIMITED -0.55% 144.2 End-of-day quote.17.33%
CHINA RENAISSANCE HOLDINGS LIMITED -1.66% 23.7 End-of-day quote.49.43%
GEELY AUTOMOBILE HOLDINGS LIMITED -2.73% 19.22 End-of-day quote.-27.47%
HANG SENG 0.03% 28601.09 Real-time Quote.5.00%
MEITUAN -1.05% 282.8 End-of-day quote.-4.01%
NIKKEI 225 0.09% 29357.82 Real-time Quote.6.97%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -3.39% 24.2 End-of-day quote.9.50%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.4158 Delayed Quote.-1.22%
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