HK stocks end firmer tracking China as authorities vow to support growth

China Cinda Asset Management

28/12/2021 08:58

* HSI +0.2%, HSCE -0.1%, CSI300 +0.7%
    * FTSE China A50  .FTXIN9  +0.8%

    HONG KONG, Dec 28 (Reuters) - Hong Kong stocks inched up on
Tuesday, tracking gains in mainland markets after China affirmed
flexible policies next year to support growth, and also led by
gains in property stocks.
    ** The Hang Seng index  .HSI  rose 0.2% to 23,280.56 at the
close of trade, extending gains for the fifth straight session,
while the Hang Seng China Enterprises Index  .HSCE  slid 0.1% to
8,194.45 points. 
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.2% and the IT sector  .HSCIIT  fell 1.1%,
while the financial sector  .HSNF  and the property sector ended
up 0.8% and 1.34%, respectively.
    ** China will keep its monetary policy flexible next year,
step up oversight of capital and platform companies, and
steadily implement a management system for real estate
financing, the central bank said on Monday.  urn:newsml:reuters.com:*:nL1N2TC0LE
    ** On the same day, the finance ministry said China will
roll out fiscal policies proactively to stabilise economic
growth, vowing that the impact of the drive would be felt
earlier than usual.  urn:newsml:reuters.com:*:nL1N2TC06X
    ** The top gainer on the Hang Seng was Hang Lung Properties
Ltd  0101.HK , which gained 4.1%, while the biggest loser was
Geely Automobile Holdings Ltd  0175.HK , which fell 3.87%.
    ** Embattled China Evergrande Group  3333.HK  jumped most in
near three months on home delivery hope.  urn:newsml:reuters.com:*:nL1N2TD01X 
    ** Shares of China Cinda Asset Management  1359.HK  jumped 
most in 8 years on its investment in the consumer finance unit
of China's Ant Group.  urn:newsml:reuters.com:*:nL1N2TD08D
    ** China's Kintor Pharmaceutical  9939.HK  hit a record low
as COVID treatment trial misses statistical criteria.
 urn:newsml:reuters.com:*:nL1N2TD04K
    ** China's main Shanghai Composite index  .SSEC  closed up
0.4% at 3,630.11 points, while the blue-chip CSI300 index
 .CSI300  ended up 0.7%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.48%, while Japan's Nikkei index
 .N225  closed up 1.37%.
    ** The yuan  CNY=CFXS  was quoted at 6.3715 per U.S. dollar
at 08:13 UTC, 0.03% firmer than the previous close of 6.3731. 

 (Reporting by Donny Kwok; Editing by Shailesh Kuber)
 ((Donny.kwok@thomsonreuters.com))