November 21, 2018 / 9:17 AM / a month ago

HK stocks rise on tech shares rebound

Nov 21 (Reuters) - Hong Kong stocks ended higher on Wednesday, aided by a sharp rebound in technology shares, despite a sell-off on Wall Street.

** The Hang Seng index rose 0.5 percent, to 25,971.47, while the China Enterprises Index gained 0.2 percent, to 10,486.07.

** A fund manager at PICC said Hong Kong stocks drew some support from late afternoon strength in the China market, while some investors hunted for bargains in oversold tech stocks. ** Investors have also said the meeting between Chinese President Xi Jinping and U.S. President Donald Trump at the forthcoming G20 conference in Argentina gives the market some breathing space, but whether a trade deal can be reached between the two countries is far from certain.

** The sub-index of the Hang Seng tracking energy shares dipped 1.6 percent, while the IT sector rose 2.47 percent, the financial sector ended 0.48 percent higher and the property sector rose 0.5 percent. ** The top gainer on the Hang Seng was Country Garden Holdings Co Ltd, which rose 4.88 percent, while the biggest loser was CNOOC Ltd, which fell 2.45 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.1 percent, while Japan’s Nikkei index closed down 0.35 percent. ** The yuan was quoted at 6.9393 per U.S. dollar at 08:35 GMT, 0.09 percent firmer than the previous close of 6.9455. ** The top gainers among H-shares were ZhongAn Online P & C Insurance Co Ltd, up 4.95 percent, followed by Great Wall Motor Co Ltd, gaining 4.21 percent, and China Galaxy Securities Co Ltd, up by 3.13 percent. ** The three biggest H-shares percentage decliners were Byd Co Ltd, which was down 2.73 percent, CNOOC Ltd, which fell 2.4 percent, and PetroChina Co Ltd, down by 2.0 percent. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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