Hong Kong shares track overnight Wall Street gains; material, tech stocks shine

China Feihe

14/04/2021 09:44

* HK->Shanghai Connect daily quota used 5.2%, Shanghai->HK
daily
quota used 0.5%
    * HSI +1.4%, HSCE +1.3%, CSI300 +0.8%
    * FTSE China A50 +0.5%

    BEIJING, April 14 (Reuters) - Hong Kong shares ended higher
on Wednesday, led by material and tech stocks, following
overnight Wall Street gains after data showed U.S. inflation was
not rising wildly as the economy reopens.
 
** At the close of trade, the Hang Seng index  .HSI  was up
403.58 points or 1.42% at 28,900.83. The Hang Seng China
Enterprises index  .HSCE  rose 1.37% to 10,999.3.
 
** The sub-index of the Hang Seng tracking IT sector  .HSCIIT 
rose 2.47%, materials  .HSCIM  ended 4.29% higher and the
property sector  .HSNP  gained 1.56%.
 
** Global stock markets on Wednesday rose to a record high as
bond yields eased after data showed U.S. inflation was not
rising wildly as the economy reopens.  urn:newsml:reuters.com:*:nL4N2M71IK
 
** The U.S. consumer price index rose 0.6%, the biggest increase
since August 2012, data showed, as rising vaccinations and
fiscal stimulus unleashed pent-up demand.  urn:newsml:reuters.com:*:nL1N2M6106
 
** Investors also cheered tech stocks in Hong Kong, as a dozen
internet platform companies, including JD.com  9618.HK  and
Baidu Inc  9888.HK , pledged to avoid anti-competitive
behaviours, clearing previous market uncertainties.  urn:newsml:reuters.com:*:nB9N2L205J
 
** This is the first batch of the 34 companies including Tencent
 0700.HK  that were ordered by China's market regulator to
conduct self-inspections for illegal business behaviours on
Tuesday, warning of "severe punishment" for any that still
violated the rules.
 
** Hong Kong-listed JD.com  9618.HK  rose 2.55% to HK$306,
recording its best session since April 1.  urn:newsml:reuters.com:*:nL1N2M706J
 
** The top gainers among H-shares were NetEase Inc  9999.HK  up
5.69%, followed by Geely Automobile Holdings Ltd  0175.HK ,
gaining 4.99% and CSPC Pharmaceutical Group Ltd  1093.HK , up by
4.66%.
 
** China's main Shanghai Composite index  .SSEC  closed up 0.6%
at 3,416.72 points, while the blue-chip CSI300 index  .CSI300 
ended up 0.83%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.96%, while Japan's Nikkei index
 .N225  closed down 0.44%.

 (Reporting by the Cheng Leng in Beijing, Luoyan Liu and Andrew
Galbraith in Shanghai; Editing by Rashmi Aich)
 ((cheng.leng@thomsonreuters.com; +8610-5669-2129;))