December 4, 2018 / 8:44 AM / 10 months ago

Hong Kong stocks rise slightly as excitement around Trump-Xi truce fades

Dec 4 (Reuters) - Hong Kong stocks edged up on Tuesday, but excitement stemming from the ceasefire in the Sino-U.S. trade war has faded, with investors shifting their attention to economic fundamentals.

** The Hang Seng index rose 0.3 percent, to 27,260.44, while the China Enterprises Index gained 0.2 percent, to 10,907.54 points.

** The market rallied strongly on Monday, after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold fresh tariffs for 90 days during which the two sides seek to address their differences.

** Some investors are sceptical that China and the United States can eventually reach a deal to end the trade war, while others are worried about the health of China’s economy.

** The sub-index of the Hang Seng tracking energy shares rose 0.4 percent, while the IT sector rose 0.47 percent, the financial sector ended 0.44 percent higher and the property sector dipped 0.37 percent. ** The top gainer on the Hang Seng was CSPC Pharmaceutical Group Ltd, which gained 2.1 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd, which fell 2.09 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.07 percent, while Japan’s Nikkei index closed down 2.39 percent. ** The yuan was quoted at 6.8417 per U.S. dollar at 08:31 GMT, 0.64 percent firmer than the previous close of 6.8855. ** The top gainers among H-shares were Haitong Securities Co Ltd up 4.36 percent, followed by ZhongAn Online P & C Insurance Co Ltd, gaining 3.04 percent and Air China Ltd, up by 2.13 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd, which was down 3.07 percent, Anhui Conch Cement Co Ltd, which fell 2.1 percent and China Vanke Co Ltd, down by 1.6 percent. (Reporting by the Shanghai Newsroom; Editing by Sunil Nair)

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