March 27, 2018 / 8:39 AM / 5 months ago

Hong Kong stocks join global market rebound as trade war fears ease

    * HK->Shanghai Connect daily quota used 13.1 pct,
Shanghai->HK
daily quota used 6.8 pct
    * HSI +0.8 pct, HSCE +0.9 pct, CSI300 +0.9 pct
    * HSI financial sector sub-index is flat; property sector up
1
percent.

    March 27 (Reuters) - Hong Kong stocks rose on Tuesday,
joining a global market rebound triggered by hopes that a
damaging trade war between the United States and China could be
averted.
    
** The abrupt mood swing came amid reports Chinese and U.S.
officials were busy negotiating to avert an all-out trade war. 
    
** White House officials are asking China to cut tariffs on
imported cars, allow foreign majority ownership of financial
services firms and buy more U.S.-made semiconductors.
             
    Chinese Premier Li Keqiang on Monday pledged to maintain
trade negotiations and ease access to American businesses.

** The Hang Seng index        rose 0.8 percent to 30,790.83,
while the China Enterprises Index         gained 0.9 percent to
12,301.55 points.
 
** The sub-index of the Hang Seng tracking energy shares
         gained 0.1 percent, while the IT sector           rose
1.46 percent, the financial sector         was 0.45 percent
higher and property sector         climbed 0.99 percent.
 
** The top gainer on Hang Seng was China Unicom Hong Kong Ltd
         , which climbed 5.47 percent, while the biggest loser
was WH Group Ltd          , which ended 3.24 percent down.
 
** China's main Shanghai Composite index         closed up 1.04
percent at 3,133.7218 points, while its blue-chip CSI300 index
          ended 0.86 percent higher.
 
 ** Around the region, MSCI's Asia ex-Japan stock index
                was firmer by 0.91 percent, while Japan's Nikkei
index         ended 2.65 percent higher.
 
 ** The yuan            was quoted at 6.2722 per U.S. dollar at
0819 GMT, 0.14 percent firmer than the previous close of 6.2807.
 
** As of previous trading session, the Hang Seng index was up
2.1 percent this year, while China's H-share index was up 4.2
percent. As of previous close, the Hang Seng declined 0.96
percent this month. 
 
** The top gainers among H-shares were Sinopharm Group Co
         , which rose 5.85 percent, followed by China Vanke Co
Ltd          , which gained 4.78 percent and China Gas Holdings
Ltd          , which climbed 3.19 percent.
 
** The three biggest H-shares percentage decliners were People's
Insurance Group of China Co Ltd          , which was down 2.51
percent, PICC Property and Casualty Co Ltd          , which
dropped 2.4 percent and Zhuzhou CRRC Times Electric Co Ltd
          slipped by 1.4 percent.
 
** About 2.11 billion Hang Seng index shares were traded,
roughly 102.1 percent of the market's 30-day moving average of
2.07 billion shares a day. The volume traded in the previous
trading session was 2.39 billion shares.
 
** At close, China's A-shares were trading at a
premium of 24.40 percent over the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 12.57
as of the last full trading day, while the dividend yield was 3
percent.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
  
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