Hong Kong stocks end lower tracking overnight Wall Street rout


SHANGHAI: Hong Kong stocks ended lower on Thursday, following a rout on the Wall Street overnight, but losses were capped by gains for IT and industrials.

At the close of trade, the Hang Seng index was down 122.20 points, or 0.49%, at 24,586.60. The Hang Seng China Enterprises index fell 0.08% to 9,955.46.

But Hang Seng IT index rose 1.6%, with bellwether Meituan Dianping rising 6.1% to a new high.

U.S. stocks tumbled on Wednesday, with the Dow closing at lows last seen in late July, as coronavirus cases soared globally and investors worried about the possibility of a contested U.S. presidential election next week.

The top gainer on the Hang Seng was Techtronic Industries Co Ltd, which gained 2.24%, while the biggest loser was WH Group Ltd, which fell 5.1%.

Investors are now taking a wait-and-see attitude ahead of the U.S. election, KGI Securities noted in a report.

Democrat Joe Biden would immediately consult with America's main allies before deciding on the future of U.S. tariffs on China, seeking "collective leverage" to strengthen his hand against Beijing if he is elected president, Biden's top advisers said on Wednesday.

China's main Shanghai Composite index closed up 0.11% at 3,272.73, while the blue-chip CSI300 index ended up 0.75%.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.61%, while Japan's Nikkei index closed down 0.37%.

The yuan was quoted at 6.7104 per U.S. dollar at 0829 GMT, 0.28% firmer than the previous close of 6.729.

The top gainers among H-shares were Meituan, up 6.14%, followed by ENN Energy Holdings Ltd, gaining 3.97% and China Resources Beer Holdings Co Ltd, up 3.26%. - Reuters

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