Hong Kong shares close higher on tech stocks, policy support optimism

Guangdong Investment

23/12/2020 08:32

* HSI +0.9%, HSCE +1%
    * 

    BEIJING, Dec 23 (Reuters) - Hong Kong shares settled higher
on Wednesday, led by gains in tech firms, as investors hoped
that policymakers would avoid sudden credit policy tightening in
2021 to support an economic recovery from the pandemic-induced
slump. 
 
** At the close of trade, the Hang Seng index  .HSI  was up
223.85 points, or 0.86%, at 26,343.10. The Hang Seng China
Enterprises index  .HSCE  rose 0.95% to 10,482.52.
 
** The IT sector  .HSCIIT  led the gains by rising 1.74%, while 
the financial sector  .HSNF  ended 0.35% higher and the property
sector rose 0.42%.
    
** The top gainer on the Hang Seng was handset maker Xiaomi Corp
 1810.HK , which rose 7.59% in its biggest daily gain in a
month.
 
** China's main Shanghai Composite index  .SSEC  closed up 0.76%
at 3,382.32, while the blue-chip CSI300 index  .CSI300  ended up
0.85%.
    
** China's central bank will scale back support for the economy
in 2021 and cool credit growth, but fears of derailing a
recovery from a pandemic-induced slump and debt defaults are
likely to prevent it from tightening any time soon, policy
sources said.  urn:newsml:reuters.com:*:nL1N2J22M4        
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.05%, while Japan's Nikkei index
 .N225  closed up 0.33%.
 
** The yuan  CNY=CFXS  was quoted at 6.5361 per U.S. dollar at
08:09 GMT, 0.1% firmer than the previous close of 6.5429. 

 (Reporting by the Shanghai Newsroom; Editing by Subhranshu
Sahu)
 ((Zoey.zhang@thomsonreuters.com))