Hong Kong shares end higher as metal firms gain on stronger demand

China Nonferrous Mining

08/04/2021 10:14

* HSI +1.2%, HSCE +0.4%
    * Tencent falls on Prosus' share sales
    * Jiangxi Copper, China Nonferrous Mining gain more than 5%

    SHANGHAI, April 8 (Reuters) - Hong Kong shares ended higher
on Thursday after metal firms were lifted by expectations of
strong demand for raw materials, as the country ramps up
vaccination efforts.
    
** At the close of trade, the Hang Seng index  .HSI   was up
1.16% at 29,008.07 points. The Hang Seng China
Enterprises index  .HSCE  gained 0.35% at 11,109.48.
    
** Leading the gains, metal producers such as Jiangxi Copper Co
Ltd  0358.HK  and China Nonferrous Mining Co Ltd  1258.HK  rose
5.4% and 5.2%, respectively. 
    
** As the economy recovers, sales of automobiles in China in
March was expected to increase 66.8% from a year ago, according
to China Association of Automobile Manufacture, boosting demand
for metals.                
    
** The Hang Seng tech index gained 0.07%, while heavyweight
Tencent Holdings Ltd  0700.HK  fell 1.5% after news that Prosus
NV has sold 2% of shares in the company.  urn:newsml:reuters.com:*:nL1N2M00IA
    
** China's main Shanghai Composite index  .SSEC 
closed up 0.08%, while the blue-chip CSI300 index  .CSI300 
ended up 0.17%.

** China reported 24 new COVID-19 cases on April 7, with 11 of
the new cases were local infections reported in the southwestern
Yunnan province.  urn:newsml:reuters.com:*:nL1N2M1023

** The country had administered a total of 149.07 million
COVID-19 vaccine doses, as of Wednesday.  urn:newsml:reuters.com:*:nB9N2LH01O           
 
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.51%, while Japan's Nikkei index
 .N225  closed down 0.07%.
 
** At 0701 GMT, the yuan  CNY=CFXS  was quoted at 6.5484 per
U.S. dollar, 0.07% weaker than the previous close of 6.5435.    
    
    

 (Reporting by the Shanghai Newsroom; Editing by Amy Caren
Daniel)
 ((zoey.zhang@thomsonreuters.com))