December 11, 2018 / 8:30 AM / 9 months ago

Hong Kong shares end higher as China-U.S. trade talks continue

* Hang Seng index ends 0.1 pct higher

* China Enterprises index HSCE falls 0.3 pct

* HSI financial sub-index flat; property sector down 0.1 pct

Dec 11 (Reuters) - Hong Kong stocks clawed back early losses to end higher on Tuesday as Beijing confirmed that it is still in trade talks with Washington, but global anxiety over trade, Brexit and the arrest of a senior Huawei executive limited gains.

** The Hang Seng index ended 0.1 percent higher at 25,771.67 points, while the China Enterprises Index lost 0.3 percent, to close at 10,245.01 points. Trading volumes were low, with about 1.23 billion Hang Seng index shares traded, roughly 69.3 percent of the market’s 30-day moving average of 1.77 billion shares a day. ** China and the United States discussed the road map for the next stage of their trade talks on Tuesday, during a telephone call between Chinese Vice Premier Liu He and U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer. ** Meng Wanzhou, chief financial officer of Chinese telecoms giant Huawei Technologies is set to return to a Vancouver courtroom on Tuesday, as the judge weighs final issues in determining whether she should be freed on bail while awaiting extradition proceedings. China has criticised her continued detention and demanded her immediate release. ** “The short term focus of Hong Kong shares is still on risk events like trade disputes, the Huawei incident and Brexit. Investors are taking more of a wait-and-see attitude and the market is awaiting good news,” analysts at Guodu Hong Kong said in a note. ** The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent, while the IT sector rose 1.1 percent. The financial sector and the property sector both fell 0.1 percent. ** The top gainer on the Hang Seng was Sunny Optical Technology Group Co Ltd, which gained 6.56 percent, while the biggest loser was Want Want China Holdings Ltd, which fell 1.84 percent. ** China’s main Shanghai Composite index closed up 0.4 percent at 2,594.09 points, while the blue-chip CSI300 index ended up 0.5 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.11 percent, while Japan’s Nikkei index closed down 0.34 percent. ** The yuan was quoted at 6.9009 per U.S. dollar at 08:17 GMT, 0.13 percent firmer than the previous close of 6.9099. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd up 4.24 percent, followed by China Gas Holdings Ltd, gaining 3.2 percent, and CRRC Corp Ltd , up by 2.61 percent. ** The three biggest H-shares percentage decliners were Haitong Securities Co Ltd, which was down 3.66 percent, Great Wall Motor Co Ltd, which fell 1.9 percent and Huaneng Power International Inc, down by 1.8 percent. ** About 1.23 billion Hang Seng index shares were traded, roughly 69.3 percent of the market’s 30-day moving average of 1.77 billion shares a day. The volume traded in the previous trading session was 1.59 billion. ** At close, China’s A-shares were trading at a premium of 19.87 percent over the Hong Kong-listed H-shares. (Reporting by Andrew Galbraith; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below