European shares edge higher after torrid week of losses
* HK->Shanghai Connect daily quota used 1.7%, Shanghai->HK daily quota used 3.4%
* HSI -0.7%, HSCE -1.1%, CSI300 +0.2%
* FTSE China A50 +0.3%
June 12 (Reuters) – Hong Kong stocks fell on Friday to end the week lower, tracking losses in other markets amid growing concerns over a resurgence of coronavirus infections.
** The Hang Seng index fell 0.7%, to 24,301.38, while the China Enterprises Index lost 1.1%, to 9,832.53 points.
** For the week, HSI lost 1.9%, while HSCE dropped 2.3%.
** Friday’s retreat came after the Wall Street tumbled on Thursday over increasing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns.
** “Accelerating the slide since the Thursday Asia session had however been reports of a surge in virus cases in pockets of the U.S., triggering fears of a second Covid-19 wave,” Jingyi Pan, market strategist at IG in Singapore, wrote in a note.
** At the close of trade, the Hang Seng index was down 178.77 points, or 0.73%, at 24,301.38. The Hang Seng China Enterprises index fell 1.13% to 9,832.53.
** The sub-index of the Hang Seng tracking energy shares dropped 3.4%, while the IT sector dipped 0.18%, the financial sector ended 0.75% lower and the property sector dipped 0.15%.
** The top gainer on the Hang Seng was Wharf Real Estate Investment Company Ltd, which gained 2.68%, while the biggest loser was CNOOC Ltd, which fell 4.64%.
** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.02%, while Japan’s Nikkei index closed down 0.75%.
** The yuan was quoted at 7.0764 per U.S. dollar at 08:16 GMT, 0.18% weaker than the previous close of 7.064.
** At close, China’s A-shares were trading at a premium of 26.37% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Shailesh Kuber)