Hong Kong Market extends losses to sixth day

Hong Kong stock market finished lower sixth consecutive session on Wednesday, 09 June 2021, amid lingering Sino-US trade tension and concerns about further policy tightening after China's producer price index for May jumped more than expected 9% from a year earlier.

At closing bell, the benchmark Hang Seng Index declined 0.13%, or 38.75 points, to 28,742.63. The Hang Seng China Enterprises Index dropped 0.23%, or 24.77 points, to 10,704.75.

The sub-index of the Hang Seng tracking the commerce & industry sector fell 0.07%, utilities sector fell 0.4%, and the finance sector fell 0.45%, while the properties sector added 0.93%.

Most of blue chip stocks declined, with Alibaba Health Information Technology paced losers among blue chips, falling 2.5% to HK$18.08. Xiaomi declined 1.6% to HK$27.90, while Anta Sports fell 1.5% to HK$154.90.

Shares of energy companies advanced as crude oil futures stayed above the US$70 threshold, a level last seen in October 2018 amid demand outlook. CNOOC gained 3% to HK$9.02, while PetroChina rose 1.8% to HK$3.41. Sinopec added 1.7% to HK$4.16.

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