Hong Kong stocks get boost from China property developers, brokers

Haitong International Securities

08/02/2017 08:09

Feb 8 (Reuters) - Hong Kong stocks erased early losses and 
closed at 3-1/2-month highs on Wednesday, boosted by shares of 
China property developers and brokers. 
    The benchmark Hang Seng index  .HSI  ended up 0.7 percent at 
23,485.13 points, while the Hong Kong China Enterprises Index 
 .HSCE  gained 1.1 percent to 9,955.34. 
    An index tracking mainland real estate stocks  .HSMPI  added 
5.6 percent, clocking its best one-day gain in 11 months.  
    Heavyweight developer China Vanke Co Ltd  2202.HK  jumped 
3.8 percent after it reported January sales grew nearly 90 
percent, compared with the same period last year. urn:newsml:reuters.com:*:nL4N1FS3K8 
    Sentiment was also lifted by rising capital inflows from 
investors in mainland China. 
    More than 14 percent of the daily southbound quota on the 
Shanghai-Hong Kong Stock Connect was used on Wednesday, compared 
with 20 percent on Tuesday and an average of nearly 11 percent 
in January.  
    The financial sector  .HSCIF  rose 1.1 percent to its 
highest level since last September, and its highest close since 
late 2015, thanks to strength in mainland China brokerages after 
they published mixed results for January.  
    Guotai Junan International Holdings Ltd  1788.HK  and 
Haitong International Securities Group Ltd  0665.hk  rallied 4.6 
percent and 6.7 percent, respectively.  
    Most sectors gained ground, but energy stocks  .HSCIM  slid 
as oil prices  LCOc1  extended Tuesday's losses after the United 
States reported growing crude stockpiles. 
     
 
 (Reporting by Jackie Cai and John Ruwitch; Editing by Kim 
Coghill) 
 ((Jackie.Cai@thomsonreuters.com; +86 021 6104 1775)) 
 
Keywords: CHINA STOCKS/HONGKONG CLOSE