Feb 9 (Reuters) - Hong Kong stocks hit a four-month high on Thursday with mainland companies outperforming, as expectations of further yuan depreciation continued to nudge Chinese investors into the city's stocks.
The benchmark Hang Seng index reached an intraday high of 23,644.63 points, the highest since Oct. 11, 2016.
The index closed up 0.2 percent to 23,525.14, while the Hong Kong China Enterprises Index settled at its highest level since November 2015, rising 1.2 percent, at 10,075.17 points.
Nearly all sectors gained ground at the close, with industrial stocks among the best performers.
Construction stocks gained as regulatory authorities signalled supply-side reforms. Industry bellwether Anhui Conch Cement Co Ltd gained 4 percent.
Stocks related to the "One Belt, One Road" theme rallied, with shipping firms leading the gains. COSCO SHIPPING Holdings Co Ltd and Sinotrans Ltd added about 11 percent and 9 percent, respectively.
"Some speculators entered the market today after the Hong Kong stock market had a solid performance yesterday, especially in blue chips," said Steve Leung, director at UOB Kay Hian Holdings, adding that rising capital inflows from the mainland also lent some support.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 120.49, the lowest in one month, indicting a narrowing of Chinese shares' premium over their Hong Kong counterparts.
A value above 100 indicates Chinese shares were priced at a premium compared to shares of the same company traded in Hong Kong. (Reporting by Jackie Cai and John Ruwitch; Editing by Randy Fabi)