Hong Kong shares rise to 1-mth high but investors wary of event risks

Dah Sing Financial Holdings

03/06/2016 09:01

June 3 - Hong Kong shares rose to one-month highs on Friday 
to cap a third straight week of gains, but trading remained 
thin, reflecting investor caution of a possible U.S. rate hike 
later this month. 
    Worries about the health of the Chinese economy and  
Britain's referendum on June 23 on whether it should remain in 
the European Union are also tempering risk appetite. 
    The Hang Seng index  .HSI  rose 0.4 percent, to 20,947.24, 
while the China Enterprises Index  .HSCE  gained 0.6 percent, to 
8,809.81 points. 
    For the week, Hang Seng was up 1.8 percent.  
    Most shares rose on Friday, with the utility sector  .HSCIU  
leading the gains.  
    Shares of Dah Sing Financial Holdings Ltd  0440.HK  rose 3 
percent, on news that the bank has agreed to sell its insurance 
business to China's Thaihot Group Co Ltd  000732.SZ  for $1.4 
billion in the city's most expensive insurance deal ever. 
 urn:newsml:reuters.com:*:nL4N18U3M2     
 
 (Samuel Shen and Pete Sweeney; Editing by Shri Navaratnam) 
 ((samuel.shen@thomsonreuters.com)) 
 
Keywords: CHINA STOCKS/HONGKONG CLOSE