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Hong Kong stocks start 2017 firmer, lifted by mainland factory surveys
January 3, 2017 / 8:20 AM / a year ago

Hong Kong stocks start 2017 firmer, lifted by mainland factory surveys

Jan 3 (Reuters) - Hong Kong stocks advanced on the year’s first trading day on Tuesday, with optimism stemming from China’s solid manufacturing surveys offseting the negative impact of a strong U.S. dollar.

The Hang Seng index rose for a fourth straight trading session, up 0.7 percent to 22,150.40 points. The China Enterprises Index gained 0.7 percent, to 9,459.55 points.

Investor confidence was lifted after a private business survey showing China’s factory activity picked up more than expected in December as demand accelerated.

But gains in the city were capped by concern over a rising U.S. currency, which makes emerging markets less attractive.

The dollar index, a measure of the greenback’s value against six major currencies, resumed its climb on Tuesday after a three-week winning streak was snapped last week.

Most sectors in Hong Kong rose, with property stocks leading the gains, up 2 percent at the close. (Reporting by Jackie Cai and John Ruwitch; Editing by Richard Borsuk)

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