SHANGHAI, Aug 12 (Reuters) - China stocks slipped on Friday
as domestic COVID-19 cases rose sharply, though the blue-chip
index snapped a five-week losing streak as geopolitical tensions
over Taiwan eased.
Hong Kong shares rose, led by tech plays.
** The CSI300 index lost 0.1%, but rose 0.8% for
the week, after posting five consecutive weekly losses. The
Shanghai Composite Index fell 0.2%.
** In Hong Kong, both the Hang Seng index and the Hong Kong
China Enterprises Index added 0.5%.
** Daily caseload for COVID-19 has risen to more than 2,000
in recent two days from around 1,000 earlier.
** "COVID-19 resurgence still weighs on market confidence in
macro recovery despite continuous containment policy
re-calibration," Morgan Stanley analysts wrote in a note.
** "The ongoing housing market uncertainty may also
potentially delay the macro economy's bottoming out," they
** Defence stocks retreated 2.4% on Friday,
while still up nearly 3% for the week amid geopolitical
** Energy shares rose more than 2%, and real estate
developers added 1.3%.
** Most other sectors remained tepid. Information technology
shares lost 1.5%, while new energy stocks
were down 1.6%.
** Mainland property developers traded in Hong Kong
gained 0.3%, as confidence in the sector recovered a bit after
Longfor Group denied rumours that it had missed
payment on commercial paper.
** Hong Kong-listed tech companies edged up 0.5%,
with index heavyweights Alibaba and Meituan
up more than 1% each.
** China's sportswear group Li Ning Co surged
nearly 5%, as its first-half net profit and revenue jumped.
(Reporting by Shanghai Newsroom
Editing by Mark Heinrich)