January 10, 2018 / 8:37 AM / a year ago

Hong Kong stocks rise for 12th session in a row

Jan 10 (Reuters) - Hong Kong stocks extended their winning streak to a 12th day on Wednesday, aided by strong inflows from mainland China. ** One-third of the daily quota under the Shanghai-Hong Kong Stock Connect was used up, as Chinese investors continued to buy Hong Kong shares at a steady pace. ** At the close of trade, the Hang Seng index was up 62.31 points or 0.2 percent at 31,073.72. The Hang Seng China Enterprises index rose 0.27 percent to 12,289.17. **The sub-index of the Hang Seng tracking energy shares rose 1 percent while the IT sector dipped 0.85 percent, the financial sector was 0.57 percent higher and the property sector rose 0.26 percent. ** The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 6.81 percent, while the biggest loser was Link Real Estate Investment Trust which was down 2.96 percent. ** China’s main Shanghai Composite index closed up 0.24 percent at 3,422.1417 points while its blue-chip CSI300 index ended up 0.45 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.46 percent while Japan’s Nikkei index closed down 0.26 percent. ** The yuan was quoted at 6.5206 per U.S. dollar at 08:21 GMT, 0.14 percent firmer than the previous close of 6.5285. ** So far this year, the Hang Seng index is up 3.65 percent, while China’s H-share index is up 4.7 percent. As of the previous close, the Hang Seng has risen 3.65 percent this month. ** The top gainers among H-shares were Anhui Conch Cement Co Ltd up 4.89 percent, followed by China Citic Bank Corp Ltd gaining 4.3 percent and China Merchants Bank Co Ltd up by 3.53 percent. ** The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd which was down 6.26 percent, Air China Ltd which fell 3.5 percent and Zhuzhou CRRC Times Electric Co Ltd down by 2.4 percent. ** About 2.68 billion Hang Seng index shares were traded, roughly 150.8 percent of the market’s 30-day moving average of 1.77 billion shares a day. The volume traded in the previous trading session was 2.07 billion. ** At close, China’s A-shares were trading at a premium of 27.27 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 14.14 as of the last full trading day while the dividend yield was 2.8 percent. ** So far this week, the market capitalisation of the Hang Seng index has risen by 0.95 percent to HK$20.43 trillion. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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