Hong Kong stocks end higher as trade optimism boosts sentiment

Hengan International

02/05/2019 09:59

* Hang Seng index up 0.83 pct 
HSCE rises 0.13 pct 
HSI financial sub-index 1.3 pct higher; property up 0.9 pct

    HONG KONG, May 2 (Reuters) - Hong Kong stocks closed firmer
on Thursday as investors cheered signs of progress in the
U.S.-China trade negotiations, while financials and property
shares boosted the index after the U.S. Federal Reserve kept the
target range for policy rate steady. 
    
** At the close of trade, the Hang Seng index was up 245.07
points, or 0.83 percent, at 29,944.18. The Hang Seng China
Enterprises index  .HSCE  closed 0.13 percent higher at
11,556.72.
    
** China markets were closed for Labour Day holiday and will
resume trading on Monday, May 6.
 
** The United States and China are nearing a trade deal that
would roll back a portion of on Wednesday after U.S. Treasury
Secretary Steven the $250 billion in U.S. tariffs on Chinese
goods, Politico reported Mnuchin said the two countries
completed "productive" talks in Beijing.  urn:newsml:reuters.com:*:nL3N22D04T       
        
** The U.S. Federal Reserve on Wednesday held interest rates
steady and signaled little appetite to adjust them any time
soon, taking heart in continued job gains and economic growth
and the likelihood that weak inflation will edge higher. 
 urn:newsml:reuters.com:*:nS0N21R01C

** Hong Kong's leading financial services companies - including
HSBC Holdings  0005.HK  and BOC Hong Kong  2388.HK  - said they
would leave their interest rates unchanged.
          
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  ended down 1.1 percent, while the IT sector  .HSCIIT 
closed 0.23 percent higher, the financial sector  .HSNF  ended
1.33 percent higher and the property sector  .HSNP  ended up
0.91 percent.
** The top gainer on the Hang Seng was China Mengniu Dairy Co
Ltd  2319.HK , which closed up 5.69 percent, while the biggest
loser was Hengan International Group Company Ltd  1044.HK ,
which closed 2.60 percent lower.
 
** The top gainers among H-shares were China Tower Corp Ltd
 0788.HK  up 3.3 percent, followed by Postal Savings Bank of
China Co Ltd  1658.HK , gaining 1.89 percent and  Guangdong
Investment Ltd  0270.HK , up by 1.77 percent.
** The three biggest H-shares percentage decliners were Dongfeng
Motor Group Co Ltd  0489.HK , which ended down 2.9 percent,
Hengan International Group Company Ltd  1044.HK , which closed
2.6 percent lower and CNOOC Ltd  0883.HK , which closed 2.1
percent weaker.
** About 1.34 billion Hang Seng index shares were traded,
roughly 80.9 percent of the market's 30-day moving average of
1.66 billion shares a day. 
        
** So far this week, the market capitalisation of the Hang Seng
index has risen by 0.30 percent to HK$19.45 trillion.
 

 (Reporting by Donny Kwok; Editing by Sherry Jacob-Phillips)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))