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Hong Kong stocks slip as worries over overseas virus resurgence weigh

* HK->Shanghai Connect daily quota used 1.8%, Shanghai->HK daily quota used 4.1%

* HSI -0.4%, HSCE -0.8%, CSI300 -1.1%

* FTSE China A50 -1.6%

April 26 (Reuters) - Hong Kong stocks weakened on Monday, as worries over a resurgence of coronavirus outbreak in overseas countries weighed on sentiment.

** At the close of trade, the Hang Seng index was down 125.92 points, or 0.43%, at 28,952.83. The Hang Seng China Enterprises index fell 0.78% to 10,981.31.

** The sub-index of the Hang Seng tracking energy shares dipped 0.4%, while the IT sector dipped 0.01%, the financial sector ended 0.11% lower and the property sector dipped 0.77%.

** India on Monday set a global record for a rise in daily coronavirus cases for a fifth straight day, while deaths from COVID-19 also jumped by an all-time high over the last 24 hours.

** There is a lack of upside momentum for Hong Kong stocks despite their being relatively cheap, as a global liquidity turning point nears, while a resurgence of the coronavirus outbreak and U.S. President Joe Biden’s tax hike plan weigh on overseas equities, Ping An Securities said in a report.

** Countries across the globe are also facing severe inflation pressure and investors need to adopt a “defence and fight back” strategy for now, the brokerage added.

** China’s main Shanghai Composite index closed down 0.95% at 3,441.17 points, while the blue-chip CSI300 index ended down 1.13%.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.51%, while Japan’s Nikkei index closed up 0.36%.

** The yuan was quoted at 6.4872 per U.S. dollar at 08:12 GMT, 0.14% firmer than the previous close of 6.4963.

** At close, China’s A-shares were trading at a premium of 33.49% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)

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