Hong Kong stocks see best weekly show in 3 months on mainland demand

China Resources Gas

05/02/2021 09:01

* HK->Shanghai Connect daily quota used 7.6%
    * Shanghai->HK daily quota used 8.6%
    * HSI +0.6%, HSCE +0.0%, CSI300 +0.2%
    * FTSE China A50 +1.4%

    Feb 5 (Reuters) - Hong Kong stocks closed higher on Friday,
helping the indexes post their best weekly performance in three
months, following persisting buying activity from mainland
investors.
    ** The Hang Seng index  .HSI  ended 0.6% higher at
29,288.68, while the China Enterprises index  .HSCE  was
unchanged at 11,561.32.
    ** For the week, HSI added 3.6%, its biggest gain since the
week ended Nov. 6, 2020, while the HSCE added 3.2%.  
    ** On Friday, mainland investors purchased net of HK$9.4
billion ($1.21 billion) worth of Hong Kong stocks via the Stock
Connect linking mainland and Hong Kong, Refinitiv data showed. 
    ** That came after their buying hit a monthly record of more
than HK$300 billion in January, as asset managers looked to the
city for bargains. 
    ** Kuaishou Technology  1024.HK  surged three-fold in its
Hong Kong debut to become the fifth-largest listed company in
the city, driven by massive demand from mom-and-pop investors
for the Chinese online video service operator.  urn:newsml:reuters.com:*:nL1N2KB04V  
     ** Worries over Sino-U.S. tensions, however, kept the gains
in check. 
    ** The United States is deliberately "creating tension" and
disrupting peace and stability, China's military said, after a
U.S. warship sailed through the sensitive Taiwan Strait.
 urn:newsml:reuters.com:*:nL1N2KA3HB 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.52%, while Japan's Nikkei index
 .N225  closed up 1.54%.
    ** The yuan  CNY=CFXS  was quoted at 6.4773 per U.S. dollar
at 0834 GMT, down 0.08%. 
    ** China's A-shares closed at a premium of 36.02% over Hong
Kong-listed H-shares.
 ($1 = 7.7525 Hong Kong dollars)

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