March 30, 2016 / 8:11 AM / a month ago

Hong Kong stocks close at one-month high on stimulus hopes

* HK->Shanghai Connect daily quota used 1.1%, Shanghai->HK daily quota used 1.4%

* HSI +0.7%, HSCE +0.5%, CSI300 +0.1%

* FTSE China A50 +0.3%

SHANGHAI, Oct 17 (Reuters) - Hong Kong stocks climbed to end at a one-month high on Thursday, on hopes that more stimulative measures would be rolled out to bolster the island city’s growth amid months-long protests.

** The Hang Seng index rose 0.7%, to 26,848.49, while the China Enterprises Index gained 0.5%, to 10,588.17.

** Nine major banks in Hong Kong have agreed to adopt a number of measures to support small and medium enterprises in Hong Kong, the central bank said on Wednesday, as four months of anti-government protests start taking its toll on local businesses.

** That came after Hong Kong’s central bank cut banks’ capital buffer to support the faltering economy on Tuesday.

** Hong Kong leader Carrie Lam had to abandon her policy speech because of jeering lawmakers on Wednesday, but later offered no direct olive branch to pro-democracy protesters, hoping instead to ease resentment by building more public housing.

** Analysts believe signs of progress in the Sino-U.S. trade talks helped lift risk appetite in the short-term.

** U.S. and Chinese trade negotiators are working on nailing down a Phase 1 trade deal text for their presidents to sign next month, U.S. Treasury Secretary Steven Mnuchin said on Wednesday, adding he was prepared to travel to Beijing for more meetings if necessary.

** China’s commerce ministry said on Thursday that China hoped to reach a phased agreement with the United States over trade as early as possible, and make progress on cancelling tariffs on each others’ goods.

** Positive signs of a potential Brexit deal also boosted sentiment, with investors welcoming optimistic comments from key officials in the last few days. (Reporting by the Shanghai Newsroom; Editing by Alex Richardson)

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