China stocks close down on US rate concerns, Taiwan tensions
Updates to market close
SHANGHAI, May 24 (Reuters) -China stocks closed down on Friday, tracking global markets lower as strong U.S. economic data overnight bolstered the prospect of interest rates staying higher for longer, damping risk appetite.
Also denting investor sentiment, China's military carried out a second day of war games around Taiwan on Friday, with drills to test their ability to "seize power" and control key areas, exercises it said were launched to punish Taiwan's President Lai Ching-te.
** At the close, the Shanghai Composite index .SSEC was down 0.88% at 3,088.87.
** The blue-chip CSI300 index .CSI300 was down 1.11%, with its financial sector sub-index .CSI300FS lower by 1.37%, the consumer staples sector .CSI000912 down 1%, the real estate index .CSI000952 down 3.58% and the healthcare sub-index .CSI300HC down 1.23%.
** The Hang Seng index .HSI was down 259.77 points or 1.38% at 18,608.94. The Hang Seng China Enterprises index .HSCE fell 1.44% to 6,605.24.
** For the week, the CSI 300 lost 2.1%, after five weeks of gains, while the Hang Seng fell 4.8%.
** The smaller Shenzhen index .SZSC ended down 1.1% and the start-up board ChiNext Composite index .CNT was weaker by 1.809%.
** The sub-index of the Hang Seng tracking energy shares .HSCIE rose 0.7%, while the IT sector .HSCIIT dipped 1.76%, the financial sector .HSNF ended 1.16% lower and the property sector .HSNP dipped 2.72%.
** The Hang Seng Tech Index .HSTECH dropped 2.5% and the Hang Seng Mainland Properties Index .HSMPI slumped 4.3%.
** Hong Kong shares of Alibaba Group Holding Ltd 9988.HK slipped 0.6%, logging the fifth straight session of decline, after the Chinese e-commerce giant said on Thursday it would sell convertible bonds to raise about $4.5 billion and planned to use some of the proceeds to repurchase American Depositary Shares.
** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.9%, while Japan's Nikkei index .N225 closed down 1.17%.
Reporting by Shanghai Newsroom; Editing by Sohini Goswami
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