May 28, 2018 / 8:35 AM / 4 months ago

HK shares end higher amid easing N.Korea-U.S. tension, upbeat China data

* HSI +0.7 pct, HSCE +0.6 pct

* U.S. team arrived in N.Korea to prepare for summit HSI financial sector sub-index is 0.7 percent higher; property sector up 0.4 percent.

May 28 (Reuters) - Hong Kong stocks closed higher on Monday on robust China data and amid optimism that the United States and North Korea were still working towards holding a summit.

** The Hang Seng index ended 0.7 percent higher at 30,792.26, while the China Enterprises Index closed 0.6 percent higher to 12,115.17 points.

** U.S. President Donald Trump said on Sunday a U.S. team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering.

** Investors found solace after data showed profits earned by Chinese industrial firms in April rose at their fastest pace in six months.

** The sub-index of the Hang Seng tracking energy shares rose 0.9 percent, while the IT sector rose 0.58 percent, the financial sector was 0.69 percent higher and property sector rose 0.39 percent. ** The top gainer on Hang Seng was PetroChina Co Ltd up 6.45 percent, while the biggest loser was CK Asset Holdings Ltd, which slipped 1.20 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.35 percent, while Japan’s Nikkei index closed up 0.13 percent. ** The yuan was quoted at 6.3931 per U.S. dollar at 08:14 GMT, 0.02 percent weaker than the previous close of 6.3917. ** As of previous trading session, the Hang Seng index was up 2.24 percent this year, while China’s H-share index was up 2.9 percent. As of previous close, the Hang Seng declined 0.72 percent this month. ** The top gainers among H-shares were PetroChina Co Ltd up 6.45 percent, followed by CSPC Pharmaceutical Group Ltd gaining 3.59 percent and Air China Ltd up by 2.62 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd, which slipped 1.81 percent, China Gas Holdings Ltd , which lost 1.7 percent and CNOOC Ltd that slid 1.1 percent. ** About 1.79 billion Hang Seng index shares were traded, roughly 109 percent of the market’s 30-day moving average of 1.64 billion shares a day. The volume traded in the previous trading session was 1.73 billion. ** At close, China’s A-shares were trading at a premium of 19.88 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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