Hong Kong shares track overnight Wall Street rout, post biggest drop over 8 months

Jan 28 (Reuters) - Hong Kong stocks posted their biggest drop in more than eight months on Thursday, pressured by an overnight Wall Street sell-off, while tighter onshore liquidity also dampened market sentiment.

** U.S. stocks suffered their biggest one-day percentage drop in three months on Wednesday, while delays with coronavirus vaccines also served as an excuse to book profits on recent hefty gains.

** At the close of trade, the benchmark Hang Seng index was down 746.76 points or 2.55% at 28,550.77, lowest close since Jan. 14 and the biggest daily drop since May 22. The Hang Seng China Enterprises index fell 2.72% to 11,334.03.

** The sub-index of the Hang Seng tracking energy shares dipped 2%, while the IT sector dipped 3.02%, the financial sector ended 2.78% lower and the property sector dipped 1.36%.

** Traders and analysts said signs of liquidity tension onshore also piled additional pressure on the Hong Kong shares.

** China’s short-term money rates climbed for a fourth straight day on Thursday, with some key tenors approaching the higher end of the interest rate corridor, as tight cash conditions persisted and market worries over a switch in authorities’ policy stance mounted. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.09%, while Japan’s Nikkei index closed down 1.53%. ** At close, China’s A-shares were trading at a premium of 36.89% over Hong Kong-listed H-shares. (Reporting by Winni Zhou and Andrew Galbraith; Editing by Rashmi Aich)