Hong Kong stocks fall as tech, consumer firms weigh

04/12/2021 | 04:46am

* HK->Shanghai Connect daily quota used 10.1%, Shanghai->HK daily quota used -3.4%

* HSI -0.9%, HSCE -0.9%, CSI300 -1.7%

* FTSE China A50 -1.2%

April 12 (Reuters) - Hong Kong stocks fell on Monday, tracking losses in the A-share market, as latest data pointed to signs of liquidity tightening on the mainland.

** At the close of trade, the Hang Seng index was down 245.52 points, or 0.86%, at 28,453.28. The Hang Seng China Enterprises index fell 0.93% to 10,874.83.

** Falling the most, the Hang Seng tech index and the Hang Seng consumer discretionary index dropped 1.6% and 2%.

** China's outstanding total social financing (TSF), a broad measure of credit and liquidity in the economy, rose 12.3% to 294.55 trillion yuan ($44.95 trillion) at the end of March from a year earlier, the central bank said on Monday.

** In March, TSF rose to 3.34 trillion yuan from 1.71 trillion yuan in February. Analysts polled by Reuters had expected March TSF to rise to 3.7 trillion yuan.

** China's Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said on Monday, after regulators fined the e-commerce giant a record $2.75 billion for abusing its market dominance.

** Shares in Alibaba Group Holdings Ltd ended up 6.5%.

** "The government-regulatory bodies have been consistently making noises and actions in terms of pushing the overreach in terms of the regulation on to some of these larger e-commerce plays which are so impactful to the economy," said Andy Maynard, head of equities at China Renaissance in Hong Kong.

** "I think a lot of people have probably priced this in. And to a degree, though it's a big number, it's not a big number for them," he added.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.07%, while Japan's Nikkei index closed down 0.77%. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Shailesh Kuber)

© Reuters 2021
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