Hopes for Sino-U.S. trade detente lift Hong Kong shares

Hengan International

18/02/2019 08:30

* Hang Seng index ends up 1.6 pct
China Enterprises index HSCE rises 1.94 pct
HSI financial sector sub-index up 1.7 pct
    * Energy shares up 2.9 pct on higher oil prices

    Feb 18 (Reuters) - Shares in Hong Kong ended higher Monday
after the U.S. and China cited progress in trade talks in
Beijing last week, as investors hope that the countries may be
able to reach an agreement before a March 1 deadline.
** At the close of trade, the Hang Seng index was up 446.17
points or 1.6 percent at 28,347.01. The Hang Seng China
Enterprises index  .HSCE  rose 1.94 percent to 11,149.02.
 
** U.S. President Donald Trump said on Twitter that trade talks
with China in Beijing had been "very productive", following a
briefing by his trade team. Chinese state media on the weekend
said that the trade negotiations, which continue in Washington
this week, were "making a final sprint" ahead of a March 1
deadline for a deal.  urn:newsml:reuters.com:*:nL1N20B0AP urn:newsml:reuters.com:*:nL3N20B019
 
** The sub-index of the Hang Seng tracking the IT sector
 .HSCIIT  rose 1.68 percent, the financial sector  .HSNF  ended
1.7 percent higher and the property sector rose 0.81 percent.
 
** Energy shares  .HSCIE  rose 2.9 percent as oil prices hit
their highest levels since November last year, lifted by
OPEC-led supply cuts, U.S. sanctions on Iran and Venezuela, and
hopes that the Sino-U.S. trade dispute may soon end.  O/R 
 
** The top gainer on the Hang Seng was PetroChina Co Ltd
 0857.HK , which gained 4.62 percent, while the biggest loser
was Swire Pacific Ltd  0019.HK , which fell 0.77 percent.
 
** China's main Shanghai Composite index  .SSEC  closed up 2.68
percent at 2,754.36 points, its highest close since Sept. 28.
The blue-chip CSI300  .CSI300  jumped 3.2 percent to 3,445.74
points, its highest close since Aug. 1.  urn:newsml:reuters.com:*:nZZN2RIJ00
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.91 percent, while Japan's Nikkei
index  .N225  closed up 1.82 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.7667 per U.S. dollar at
08:23 GMT, 0.12 percent firmer than the previous close of 6.775.
 
** The top gainers among H-shares were CITIC Securities Co Ltd
 6030.HK  up 6.62 percent, followed by GF Securities Co Ltd
 1776.HK , gaining 5.92 percent and Huatai Securities Co Ltd
 6886.HK , up by 5.2 percent.
 
** The three biggest H-shares percentage decliners were Byd Co
Ltd  1211.HK , which was down 1.49 percent, Hengan International
Group Company Ltd  1044.HK , which fell 0.4 percent and China
Vanke Co Ltd  2202.HK , down by 0.2 percent.
 

 (Reporting by Andrew Galbraith; Editing by Richard Borsuk)
 ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))