HK stocks post biggest weekly loss in 3 months amid trade war fears
Friday, 22 June 2018 15:58 WIB | MARKET UPDATE |HANG SENGSaham Hong KongIndeks Hang SengHang Seng China Enterprise

Hong Kong's benchmark stock index ended slightly higher on Friday, but posted its biggest weekly loss in three months amid escalating trade tensions between Beijing and Washington.

The Hang Seng index rose 0.2 percent to 29,338.70, while the China Enterprises Index lost 0.2 percent to 11,339.87 points.

For the week, the Hang Seng lost 3.2 percent, its worse weekly performance since late March.

Investors are increasingly worried that the U.S. and China are heading for full-blown trade war, following the U.S. president's fresh tariff announcement against China last week, and threats of more action if China retaliates.

The sub-index of the Hang Seng tracking energy shares dipped 0.2 percent while the IT sector rose 0.28 percent, the financial sector was 0.01 percent higher and property sector rose 0.14 percent.

The top gainer on Hang Seng was Hengan International Group Company Ltd up 3.35 percent, while the biggest loser was PetroChina Co Ltd which was down 1.04 percent.

Source: Reuters

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