China shares snap three-day losing streak, HK down ahead of Powell's speech

China stock market: China stocks ended higher on Friday after three straight sessions of losses, while Hong Kong shares fell in conjunction with regional peers amid caution ahead of Federal Reserve Chair Jerome Powell's speech.

Powell is scheduled to speak at a central bank event in Jackson Hole, Wyoming, later on Friday, where global investors will tune in to gauge the extent and timing of US rate cuts.

At the close, the Shanghai Composite index .SSEC was up 0.2 per cent at 2,854.37 points.

The blue-chip CSI300 index was up 0.42 per cent, with its financial sector sub-index higher by 1.18 per cent, the consumer staples sector down 0.04 per cent, the real estate index down 0.19 per cent and the healthcare sub-index down 0.21 per cent.

The smaller Shenzhen index ended up 0.08 per cent and the start-up board ChiNext Composite index was unchanged.

Electric vehicle shares led losses this week amid rising trade tensions between China and the European Union, with a gauge measuring the sector falling 2.4 per cent for the week to the lowest level in more than four years.

China's Commerce Ministry met with automakers and industry associations on Friday to discuss raising import tariffs on large-engined gasoline vehicles, sounding a warning as the European Union nears a tariff decision on Chinese electric cars.

At the close of trade, the Hang Seng index was down 28.90 points or 0.16 per cent at 17,612.10. The Hang Seng China Enterprises index fell 0.08 per cent to 6,219.24.

The sub-index of the Hang Seng tracking energy shares rose 0.6 per cent, while the IT sector dipped 0.56 per cent, the financial sector .HSNF ended 0.45 per cent higher and the property sector dipped 0.45 per cent.

The top gainer on the Hang Seng was Ping An Insurance Group Co of China Ltd 2318.HK, which gained 3.64 per cent, while the biggest loser was NetEase Inc 9999.HK, which fell 10.28 per cent.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.05 per cent, while Japan's Nikkei index closed up 0.4 per cent.

The yuan CNY=CFXS was quoted at 7.1365 per US dollar at 0845 GMT, 0.16 per cent firmer than the previous close of 7.148.