HK shares rise as financials, consumer stocks gain on earnings boost

JD Health International

28/04/2021 09:34

* HSI +0.5%, HSCE +0.4%, CSI300 +0.6%
    * Yum China, WH Group gain on strong Q1 earnings
    * China set to report first population drop since 1949

    SHANGHAI, April 28 (Reuters) - Hong Kong shares closed
higher on Wednesday, with financials and consumer staples
leading gains on the back of strong corporate earnings, while
investors await cues on policy from politburo meetings due later
this week. 
 
** At the close of trade, the Hang Seng index  .HSI  was up
129.80 points or 0.45% at 29,071.34. The Hang Seng China
Enterprises index  .HSCE  rose 0.28% to 11,014.69.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 0.1%, while the IT sector  .HSCIIT  edged up
0.16%, the financial sector  .HSNF  ended 0.97% higher and the
property sector dipped 0.14%.
    
** Shares of pork processor WH Group Ltd  0288.HK  rose 3.3%
while restaurant group Yum China Holdings Inc  9987.HK  jumped
5.38% after both companies reported strong earning results for
the first quarter.  urn:newsml:reuters.com:*:nL1N2ML05U  urn:newsml:reuters.com:*:nL1N2ML051
    
** Investors are expecting a meeting of the politburo, the top
decision-making body of China's ruling Communist Party, to
happen sometime later this week.  
    
** China is set to report its first population decline since
1949, the Financial Times reported on Tuesday, complicating the
challenges faced by policymakers to ensure the country's
long-term economic growth.  urn:newsml:reuters.com:*:nFWN2MK0XH       
 
** China's main Shanghai Composite index  .SSEC  closed up 0.42%
at 3,457.07 points, while the blue-chip CSI300 index  .CSI300 
ended up 0.56%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.07%, while Japan's Nikkei index
 .N225  closed up 0.21%.
 
** The yuan  CNY=CFXS  was quoted at 6.4857 per U.S. dollar at
08:19 GMT, 0.04% weaker than the previous close of 6.483.    

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((zoey.zhang@thomsonreuters.com))