Hong Kong stocks hit near 3-wk closing high on recovery hopes

China Resources Beer Holdings

03/06/2020 09:46

* HK->Shanghai Connect daily quota used 2.4%, Shanghai->HK
daily
quota used 0.9%
    * HSI +1.4%, HSCE +0.9%, CSI300 +0.0%
    * FTSE China A50 +0.1%

    June 3 (Reuters) - Hong Kong stocks tracked gains in other
markets to end at a near three-week high on Wednesday, as hopes
of more stimulus measures and further easing in coronavirus-led
curbs around the world offset caution over U.S.-China tensions.
    ** At the close of trade, the Hang Seng index  .HSI  was up
329.68 points, or 1.37%, at 24,325.62, its highest since May 21.
The Hang Seng China Enterprises index  .HSCE  rose 0.92% to
9,967.53.
    ** The MSCI world equity index  .MIWD00000PUS , which tracks
shares in 49 countries, rose to its highest since March 6,
having gained throughout the Asian session. 
    ** Sentiment was helped by a private survey pointing to
recovery in China's service sector in May. 
    ** China's services sector returned to growth last month for
the first time since January as the economy recovers from strict
coronavirus-induced containment measures, although employment
and overseas demand remained weak, a private survey showed. 
    ** Mainland investors continued to purchase shares in the
Asian financial hub despite the Sino-U.S. tensions, with their
net buying via the Stock Connect reaching about 2.2 billion yuan
 ($309.34 million) for the day.    
    ** A survey of U.S. businesses on Wednesday revealed deep
fears for the future of their operations in Hong Kong if China
imposes national security legislation that critics say could
curb the financial centre's freedoms and fuel ongoing protests.
 urn:newsml:reuters.com:*:nL4N2DG0NR  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 1.7%, while Japan's Nikkei index
 .N225  closed up 1.29%.
    ** The yuan  CNY=CFXS  was quoted at 7.1109 per U.S. dollar
at 08:27 GMT, 0.09% weaker than the previous close of 7.1045. 


($1 = 7.1119 Chinese yuan renminbi)  

 (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))