Hong Kong shares flip to gains on demand from mainland investors

Hang Lung Properties

03/02/2021 08:51

* HSI +0.2%, HSCE +0.4%
    * Mainland investors extend buying spree in lower-valued
stocks
    * A-share trades at 35.23% premium over H-shares

    BEIJING, Feb 3 (Reuters) - Hong Kong shares reversed earlier
losses to close higher on Wednesday, helped by tech and energy
firms following continuous demand from mainland investors
seeking lower-valued stocks.
    
** At the close of trade, the Hang Seng index  .HSI  was up
58.76 points or 0.2% at 29,307.46. The Hang Seng China
Enterprises index  .HSCE  rose 0.37% to 11,651.84.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 1.7%, while the IT sector  .HSCIIT  rose 1.92%.
The financial sector  .HSNF  shed 0.15% and the property sector
dipped 0.71%.
    
** Mainland investors on Wednesday poured a net HK$12.3 billion 
($1.59 billion) worth of Hong Kong stocks via the Stock Connect
linking mainland and the Asian financial hub, attracted by their
low valuations.
    
** In January, the southbound purchases totalled HK$310 billion,
the highest on a monthly basis, according to HKEX.    

** At close, China's A-shares were trading at a premium of
35.23% over Hong Kong-listed H-shares.
    
** China's main Shanghai Composite index  .SSEC  closed down
0.46% at 3,517.31, while the blue-chip CSI300 index  .CSI300 
ended down 0.29%.
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 1.35%, while Japan's Nikkei index
 .N225  closed up 1%.
    
** The yuan  CNY=CFXS  was quoted at 6.4578 per U.S. dollar at
0819 GMT, down 0.02%. 

($1 = 7.7510 Hong Kong dollars)

 (Reporting by the Shanghai Newsroom; editing by Uttaresh.V)
 ((zoey.zhang@thomsonreuters.com))