Hong Kong stocks track mainland higher on policy cheer

China Resources Beer Holdings

12/10/2020 09:49

* HK->Shanghai Connect daily quota used 15.7%, Shanghai->HK
daily
quota used 9.8%
    * HSI +2.2%, HSCE +2.7%, CSI300 +3.0%
    * FTSE China A50 +3.1%

    Oct 12 (Reuters) - Hong Kong stocks on Monday tracked gains
on the mainland, with the Hang Seng China Enterprises index
posting its best day in three months, as investors cheered
Beijing's latest policy support for its capital markets. 
    ** At the close of trade, the Hang Seng index  .HSI  was up
530.55 points or 2.2% at 24,649.68. The Hang Seng China
Enterprises index  .HSCE  rose 2.71% to 9,878.74, posting its
best daily gain since July 6.  
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 0.6%, while the IT sector  .HSCIIT  advanced
3.23%, the financial sector  .HSNF  ended 2.14% higher and the
property sector climbed 1.11%.
    ** The top gainer on the Hang Seng was Xiaomi Corp
 1810.HK , which gained 8.35%, while the biggest loser was
Hengan International Group Company Ltd  1044.HK , which fell
1.6%.
    ** China's state council published on Friday the Opinion on
Further Improving the Quality of Listed Companies, which
includes exploring more long-term evaluation mechanisms for
institutional investors to attract more mid and long-term funds.
 
    ** Guotai Junan Securities noted in report that the opinion
will help boost risk appetite. 
    ** Though analysts urged caution given uncertainties for the
short term. 
    ** Entering October, there are still strong uncertainties
around the U.S. election and the development of the coronavirus
outbreak, analysts at Guodu Hong Kong said in a report.  
    ** The brokerage added the Hang Seng index faced strong
resistance around the 24,500-point level.  
    ** China's main Shanghai Composite index  .SSEC  closed up
2.64% at 3,358.47 points, while the blue-chip CSI300 index
 .CSI300  ended up 3.03%.  urn:newsml:reuters.com:*:nAZN00GMFV 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.33%, while Japan's Nikkei index
 .N225  closed down 0.26%.
    ** The yuan  CNY=CFXS  was quoted at 6.735 per U.S. dollar
at 0834 GMT, 0.62% weaker than the previous close of 6.6932.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))