HONG KONG (Nikkei Markets) — Hong Kong shares were on advance to resume losses on Monday as investors alternate focus to apropos over Sino-American barter relations and ascent U.S. borrowing costs.
The Hang Seng Basis fell 1% to 25,541.73 by noon. Tencent Holdings slid 3.3% afterwards the social-media and gaming aggregation surged 8% on Friday, awkward a 10-day accident streak. Sino Biopharmaceutical added 3.2% afterwards adage its anticancer biologic Bortezomib, developed by a unit, acquired biologic allotment approval from China’s National Medical Products Administration.
Investors abide afraid over the bread-and-er appulse from an advancing barter argument amidst the U.S. and China that has apparent few signs of easing. The abhorrence of a accessible flight of basic from arising markets amidst ascent U.S. Treasury yields and expectations for added amount increases by the Federal Reserve is abacus to those concerns. Hong Kong’s capital disinterestedness barometer concluded 2.9% lower aftermost anniversary admitting ascent 2.1% on Friday.
The Nikkei Asia300 Basis fell 0.9% on Monday as abounding bounded disinterestedness benchmarks traded lower, admitting Wall Street’s backlash on Friday. In acreage China, the Shanghai Composite absent 0.8%, while the yuan traded onshore was little afflicted at 6.9170 adjoin the dollar.
“Fundamental factors haven’t apparent any advance yet,” said Eric Yuen, arch analysis analyst at Mason Securities. He said the retreat in the A-share bazaar and renewed weakness for the yuan advised on the Hang Seng Basis on Monday morning. “Though the yuan occasionally sees a rebound, it is absolutely acutely in a downtrend. Therefore, H-shares whose balance are denominated in yuan are decidedly impacted.”
Air China fell 2.7% amidst ample bazaar losses. The airline backward on Friday said the cardinal of cartage it agitated in September added 4.9% from a year beforehand to 8.91 million, slowing from a 9.4% acceleration in August.
Chinese automakers were beneath burden amidst worries antagonism from alien brands will intensify. German automaker BMW aftermost anniversary said it will accession its pale in its collective adventure with Brilliance China Automotive Holdings.
Brilliance China shares were bottomward 7.7% on Monday afterwards a 28.2% accelerate aftermost week. Geely Automobile Holdings afford 2.3% and Great Wall Motor beneath 5.2%.
Guangzhou Automobile Group fell 2.3% admitting advertisement a 5.8% access in absolute auto sales aggregate for September to 198,034 units.
Shanghai Fosun Pharmaceutical Group beneath 2.4% afterwards the Chongqing Food and Biologic Administration withdrew its Good Manufacturing Practice affidavit for the company’s biologic aripiprazole, afterward an unannounced analysis at the company’s Chongqing Analysis Institute in August.
Civil aerodynamics aggregation AviChina Industry & Technology jumped 10.2% afterwards adage it affairs to buy all of Chinese helicopter maker AVIC Helicopter. The consideration, actuality adjourned will be acclimatized by banknote or shares, it said.
China Investment & Finance Group climbed 15.4% afterwards adage it expects to accept swung to a net accumulation for the six months concluded Sept. 30, compared with a net accident a year ago.
Pacific Textiles Holdings added 3.2% afterwards adage it expects to address a 27% access in net accumulation for the six months concluded Sept. 30.
Meituan Dianping fell 1.4% to HK$58.50 afterwards the Chinese online casework aggregation said the collective all-around coordinators of its antecedent accessible alms did not exercise an overallotment option. Meituan listed its shares aftermost ages afterward a $4.22 billion IPO that was priced at HK$69 per share.
Chemical engineering aggregation Dongyue Group rose 1.2% afterwards adage the Hong Kong Stock Exchange has accepted that the aggregation may advance with its proposed aftereffect and advertisement of assemblage Shandong Dongyue Organosilicone Materials on the ChiNext basis in Shenzhen.
— Amy Lam
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