Hong Kong stocks end higher, subdued China GDP curbs gains

China Resources Gas

19/10/2020 09:48

* HK->Shanghai Connect daily quota used 0.7%, Shanghai->HK
daily
quota used 4.7%
    * HSI +0.6%, HSCE +0.6%, CSI300 -0.8%
    * FTSE China A50 -0.5%

    Oct 19 (Reuters) - Hong Kong stocks closed higher on Monday,
aided by heavyweight financial and utilities firms, but China's
weaker-than-expected GDP data kept gains in check. 
    ** At the close of trade, the Hang Seng index  .HSI  was up
155.47 points or 0.64% at 24,542.26. The Hang Seng China
Enterprises index  .HSCE  rose 0.64% to 9,978.16. HSI and HSCE
had gained 1.6% and 1.9% in early morning trade before China's
GDP data. 
    ** The top gainer on the Hang Seng was Industrial and
Commercial Bank of China Ltd  1398.HK , which gained 3.62%,
while the biggest loser was Xiaomi Corp  1810.HK , which fell
4.1%. 
    ** The Hang Seng financials index  .HSCIF  led gains, rising
1.2%, while the Hang Seng utilities index  .HSCIU  rose 1.8%. 
    ** China's GDP grew 4.9% in July-September from a year
earlier, official data showed, slower than the median 5.2%
forecast by analysts in a Reuters poll.  urn:newsml:reuters.com:*:nL4N2H621K 
    ** Gross domestic product (GDP) grew 4.9% in July-September
from a year earlier, data showed, slower than the 5.2% forecast
by analysts in a Reuters poll but faster than the second
quarter's 3.2% growth.
    ** "China's economy remains on the recovery path, driven by
a rebound in exports. Consumer spending is also headed in the
right direction, but we cannot say it has completely shaken off
the drag caused by the coronavirus," said Yoshikiyo Shimamine,
chief economist at Dai-ichi Life Research Institute in Tokyo.
    ** Shares of Sun Art Retail Group Ltd  6808.HK  surged 19%,
after Alibaba Group Holdings  BABA.N  9988.HK  said it would
invest $3.6 billion to boost its stake in the company.
 urn:newsml:reuters.com:*:nL4N2HA0LV 
    ** MSCI's Asia ex-Japan stock index  .MIAPJ0000PUS  was
firmer by 0.22%, while Japan's Nikkei index  .N225  closed up
1.11%.
    ** The yuan  CNY=CFXS  was quoted at 6.6981 per U.S. dollar
at 0815 GMT, 0.01% firmer than the previous close of 6.699. 
    ** At close, China's A-shares were trading at a premium of
46.65% over Hong Kong-listed H-shares.

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