Hong Kong stocks end higher, Sino-U.S. tensions cap gains

Shenzhou International group

23/11/2020 09:14

* HK->Shanghai Connect daily quota used 14.9%, Shanghai->HK
daily
quota used 6.7%
    * HSI +0.1%, HSCE +1.1%, CSI300 +1.3%
    * FTSE China A50 +1.5%

    SHANGHAI, Nov 23 (Reuters) - Hong Kong shares closed higher
on Monday as cyclical stocks rose on hopes of a vaccine-led
recovery, although Sino-U.S. tensions capped gains.
    ** The Hang Seng index  .HSI  ended up 34.66 points, or
0.13%, at 26,486.20. The Hang Seng China Enterprises index
 .HSCE  rose 1.07% to 10,666.53.
    ** The Hang Seng materials  .HSCIM , industrials  .HSCIIG 
and energy indexes  .HSCIE  led the gains, rising 4.6%, 2.3% and
3.5%, respectively. 
    ** A top official of the U.S. government's vaccine
development effort said the first vaccines could be given to
U.S. healthcare workers and others by mid-December.  urn:newsml:reuters.com:*:nL1N2I80DC
    ** The vaccine progress brought hopes of economic recovery,
which further provided support for the market, CITIC Securities
analysts noted in a report. 
    ** The brokerage recommended sectors including automakers,
cement, real estate that benefit from improving domestic
consumption, and banking and insurance names with low
valuations.  
    ** But, investors were cautious on fresh tensions between
Washington and Beijing. 
    ** The Trump administration is looking at moves that would
restrict 89 Chinese aerospace and other companies from buying a
range of U.S. goods and technology, according to a draft copy of
the list of firms seen by Reuters.  urn:newsml:reuters.com:*:nL1N2I701N  
    ** A two-star Navy admiral overseeing U.S. military
intelligence in the Asia-Pacific region made an unannounced
visit to Taiwan, two sources told Reuters on Sunday, in a
high-level trip that could vex China.  urn:newsml:reuters.com:*:nL1N2I805Z  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.83%, while Japan's Nikkei index
 .N225  closed down 0.42%.
    ** The yuan  CNY=CFXS  was quoted at 6.5694 per U.S. dollar
at 0812 GMT, 0.11% weaker than the previous close of 6.5622. 
    ** At close, China's A-shares were trading at a premium of
42.74% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom; editing by Uttaresh.V)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))