March 17, 2020 / 9:46 AM / 17 days ago

Hong Kong stocks end losing streak as financials, IT sectors boost

* Hang Seng up 0.9%, H-shares down 0.1%

* City to quarantine all people entering for 14 days

* U.S., European futures climb after Wall St rout

HONG KONG, March 17 (Reuters) - Hong Kong stocks snapped four sessions of falls on Tuesday, with technology and financial sectors leading the recovery, as investors picked up battered shares while signs of limited strength in global markets also supported sentiment.

** At the close of trade, the Hang Seng index rose 0.9% to 23,263.73. The Hang Seng China Enterprises index inched down 0.1%. ** The sub-index of the Hang Seng tracking energy shares edged down 0.6%, while the IT sector gained 1.6% and the financial sector ended 1.1% higher. ** Hong Kong will quarantine for 14 days all people entering the Chinese-ruled city starting midnight on Thursday to prevent the spread of the coronavirus, leader Carrie Lam said on Tuesday. The government also advised its citizens to avoid all non-essential travel.

** Hong Kong detected its first cases as early as January, but severe social distancing measures and a strong community response has helped it avoid the scale of contagion seen in other regions. ** The S&P 500 e-minis futures hit their upper limit in Asia trade, while European futures also moved higher, as investors found value in cheapened stocks after Wall Street suffered its biggest drop since the crash of 1987 overnight.

** China Merchants Securities expects Hong Kong and Chinese stocks to outperform major markets globally, its analysts said in a note.

** They said measures to control the epidemic are taking effect in China, production is resuming and valuation in these markets are closer to historic lows, compared with their U.S. and European markets. ** Asian shares held their ground on Tuesday in a volatile session. Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.1%, while Japan’s Nikkei index closed up less than 0.1%. ** About 3.64 billion Hang Seng index shares were traded. The volume traded in the previous trading session was 4.07 billion. (Reporting by Noah Sin; Editing by Devika Syamnath)

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