Hong Kong stocks climb as financials, real estate shine on upbeat China data

Guangdong Investment

28/09/2020 10:02

* HK->Shanghai Connect daily quota used -0.7%, Shanghai->HK
daily
quota used 4.2%
    * HSI +1.0%, HSCE +0.9%, CSI300 +0.3%
    * FTSE China A50 +0.7%

    Sept 28 (Reuters) - Hong Kong stocks climbed on Monday,
boosted by robust gains for financial and properties firms,
after China's upbeat data pointed to recovery gaining momentum
in the world's second-largest economy from the coronavirus
crisis.
    ** At the close of trade, the Hang Seng index  .HSI  was up
240.63 points or 1.04% at 23,476.05. The Hang Seng China
Enterprises index  .HSCE  rose 0.87% to 9,383.4.
    ** The sub-index tracking energy shares  .HSCIE  rose 1%,
while the IT sector  .HSCIIT  rose 1.23%. The financial sector
 .HSNF  ended 1.86% higher. 
    ** HSBC Holdings Plc  0005.HK  was the top gainer, jumping
9.22%, while China Unicom Hong Kong Ltd  0762.HK  was the
biggest loser, down 3.02%.
    ** Profits at China's industrial firms grew, buoyed in part
by a rebound in commodities' prices and equipment manufacturing,
the statistics bureau said on Sunday.  urn:newsml:reuters.com:*:nL4N2GO0QV 
    ** China's recovery has been gaining momentum as pent-up
demand, government stimulus and surprisingly resilient exports
propel a rebound. 
    ** Leading the gains, the Hang Seng financials  .HSCIF 
ended 1.9% higher, with HSBC Holdings  0005.HK  jumping 9.2%
after Ping An Insurance increased stake.  urn:newsml:reuters.com:*:nL4N2GP0RK 
    ** Properties firm also rallied, led by China Evergrande
Group  3333.HK  surging 20.6%. 
    ** China Evergrande Group  3333.HK  said its debt-cutting
measures were working and the Hong Kong bourse had approved its
spinoff plan.  urn:newsml:reuters.com:*:nL4N2GP0TK
    ** China Evergrande Group on Friday night gave a progress
update on the IPO plans of its property management and electric
vehicle units, indicating they could raise about $7 billion,
amid mounting fears of a liquidity crisis.  urn:newsml:reuters.com:*:nL4N2GP0LN 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.51%, while Japan's Nikkei index
 .N225  closed up 1.32%.
    ** The yuan  CNY=CFXS  was quoted at 6.818 per U.S. dollar
at 0834 GMT, 0.06% firmer than the previous close of 6.822. 
    ** At close, China's A-shares were trading at a premium of
47.57% over Hong Kong-listed H-shares.

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