Hong Kong stocks end at 5-month high on upbeat China data

Guangdong Investment

27/12/2019 08:50

* HK->Shanghai Connect daily quota used 7.7%, Shanghai->HK
daily
quota used 4.8%
    * HSI +1.3%, HSCE +1.4%, CSI300 -0.1%
    * FTSE China A50 +0.2%

    SHANGHAI, Dec 27 (Reuters) - Hong Kong stocks closed at a
five-month peak on Friday as investors cheered a rebound in
China's industrial profits for November, while hopes that
Beijing and Washington will soon sign a trade deal aided
sentiment. 
    ** The benchmark Hang Seng index  .HSI  ended up 1.3% at
28,225.42, the highest closing level since July 26, while the
China Enterprises Index  .HSCE  gained 1.4% to 11,194.55.  
    ** For the week, HSI gained 1.3%, while HSCE added 1.5%.
Both indexes recorded a fourth straight weekly gain. 
    ** Profits at industrial firms in November grew at the
fastest pace in eight months, breaking a three-month declining
streak, as production and sales quickened, but broad weakness in
domestic demand remains a risk for earnings next year.
 urn:newsml:reuters.com:*:nL4N28Z0LE 
    ** China said it was in close contact with the United States
on signing a Phase 1 trade deal, and that both sides were still
going through necessary procedures before the signing.
 urn:newsml:reuters.com:*:nB9N28903U 
    ** Another factor driving the markets was a Reuters report
that said China had called on its biggest state firms to take a
more active role in Hong Kong, including stepping up investment
and asserting more control of companies in the financial hub.
 urn:newsml:reuters.com:*:nL3N26225W   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.76%, while Japan's Nikkei index
 .N225  closed down 0.36%.
    ** The yuan  CNY=CFXS  was quoted at 6.999 per U.S. dollar
at 0821 GMT, 0.01% weaker than the previous close of 6.998. 
    ** At close, China's A-shares were trading at a premium of
24.98% over Hong Kong-listed H-shares.

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