March 26, 2018 / 8:31 AM / 5 months ago

Hong Kong stocks end higher after report of U.S.-China trade talks

* Hang Seng index ends 0.8 pct higher

* China Enterprises index rises 0.6 pct

* HSI financial sector sub-index firms 0.8 pct

March 26 (Reuters) - Hong Kong stocks reversed earlier losses to end higher on Monday, as trade war worries eased after reports the United States and China commenced talks to improve U.S. access to Chinese markets.

** The United States asked China in a letter last week to cut the tariff on U.S. autos, buy more U.S.-made semiconductors and give U.S. firms greater access to the Chinese financial sector, the Wall Street Journal reported on Monday, citing unnamed sources. ** At close of trade, the Hang Seng index was up 239.48 points or 0.79 percent at 30,548.77, while the Hang Seng China Enterprises index rose 0.57 percent to 12,197.70. **The sub-index of the Hang Seng index tracking energy shares rose 2.3 percent, the IT sector rose 1.37 percent, the financial sector firmed 0.83 percent and the property sector gained 0.32 percent. ** The top gainer on Hang Seng was China Petroleum & Chemical Corp, climbing 4.86 percent, while the biggest loser was WH Group Ltd, which fell 3.88 percent. ** As of the previous trading session, the Hang Seng index was up 1.3 percent this year, while China’s H-share index was up 3.6 percent. As of the previous close, the Hang Seng has declined 1.74 percent this month. ** The top gainers among H-shares were China Petroleum & Chemical Corp, up 4.86 percent, followed by Postal Savings Bank of China Co Ltd gaining 4.77 percent and Shenzhou International Group Holdings Ltd, up 4.15 percent. ** The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd which fell 4.01 percent, PICC Property and Casualty Co Ltd which shed 3.7 percent and China Shenhua Energy Co Ltd down 2.4 percent. ** About 2.39 billion Hang Seng index shares were traded, roughly 114.4 percent of the market’s 30-day moving average of 2.09 billion shares a day. The volume traded in the previous trading session was 3.63 billion. ** At close, China’s A-shares were trading at a premium of 24.46 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Amrutha Gayathri)

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