May 11, 2020 / 9:01 AM / 23 days ago

Hong Kong stocks rise as more countries look to ease restrictions

* HK->Shanghai Connect daily quota used 3.6%, Shanghai->HK daily quota used -3.3%

* HSI +1.5%, HSCE +1.2%, CSI300 -0.1%

* FTSE China A50 +0.0%

May 11 (Reuters) - Hong Kong stocks tracked Wall Street higher on Monday as more countries looked to restart their economies, though gains were capped by fears of a coronavirus resurgence in mainland China.

** At the close of trade, the Hang Seng index was up 371.89 points, or 1.53%, at 24,602.06. The Hang Seng China Enterprises index rose 1.24% to 9,990.48.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.78%, while Japan’s Nikkei index closed up 1.05%.

** The yuan was quoted at 7.0866 per U.S. dollar at 08:31 GMT, 0.17% weaker than the previous close of 7.0749.

** Millions of French people are set to cautiously emerge from one of Europe’s strictest lockdowns, once more able to engage in everyday activities that have become unexpectedly precious, such as visiting shops and getting their hair cut.

** The disparate situation between the market and the economic readings on hand appears to have extended through last week with the continued hopes for speedy recovery alongside reopening, IG market strategist Jingyi Pan said in a note.

** However, markets pared gains in afternoon trade as worries resurfaced over the virus resurgence on the mainland.

** Wuhan, the epicentre of the novel coronavirus outbreak in China, reported five new confirmed cases, all of whom live in the same residential compound.

** China reported 17 new COVID-19 cases in the mainland on May 10, marking the highest daily increase since April 28.

** After signalling more policy support for the virus-hit economy on Sunday, the Chinese central bank lowered interest rates on its standing lending facility in April. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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