Hong Kong stocks end week with sharp loss

Hong Kong stocks ended Friday with a loss, unable to build on its four-day winning streak, as investors took profits while keeping an eye on developments in the China-US trade row.

The Hang Seng Index slipped 0.84 percent, or 240.68 points, to 28,366.62.

The benchmark Shanghai Composite Index was barely moved, inching up 0.93 points to 2,795.31.

The Shenzhen Composite Index, which tracks stocks on China’s second exchange, rose 0.69 percent, or 10.32 points, to 1,515.96.

Source : AFP

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Europe’s stock benchmarks log second straight loss as trade worries weigh

European stocks finished the session firmly lower Thursday as trade tensions between the U.S. and China appeared to be experiencing fresh escalation, with Germany’s main benchmark dragged down by concerns about the impact of tariff action. Disappointing earnings updates from Siemens AG and BMW AG added to the downbeat mood, and the Bank of England lifted U.K. borrowing costs, as expected.

The Stoxx Europe 600 index shed 0.8% to close at 386.64, logging its second consecutive loss. On Wednesday, the pan-European index fell 0.8%, after ending July on a up note.

Source: Marketwatch

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China Stocks Hold Loss After GDP Meets Estimates; Xiaomi Tumbles

Chinese stocks remained lower after data showed 2Q GDP grew 6.7%, in line with expectations, while Xiaomi dropped after being excluded from a list of stocks eligible for trading via connects with mainland China.

Shanghai Composite Index down 0.6% as of 10:19am local time.

CSI 300 Index also 0.6% lower, ChiNext retreats 0.5%.

Hang Seng Index falls 0.3%, erasing 0.6% gain; Hang Seng China Enterprises Index -0.9%.

Xiaomi, which made its debut in Hong Kong last week, slides as much as 9.6%; China traders barred From buying Xiaomi through Stock Link.

ZTE jumps 10% in Shenzhen and as much as 13% in Hong Kong after U.S.lifts ban.

Haier Electronics jumps 6.6% after Credit Suisse upgrades to buy.

BYD drops as much as 5.1% in H.K. and 6.9% in Shenzhen after reporting faking of seal and staff identity to police.

Beijing Enlight Media falls 6.4%, Zhejiang Huace Film -1.9%, Huayi Brothers Media -1.3% after regulator vows to tighten film industry tax supervision.

Source: Bloomberg

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