Hong Kong stocks gain on global sentiment lift

Shenzhou International group

23/04/2020 10:11

* Hang Seng adds 0.4%, H-shares up 0.4%
    * Reuters poll shows China economy on slow road to recovery
    * Asian markets up as oil prices rebound, U.S. vows spending

    HONG KONG, April 23 (Reuters) - Hong Kong shares edged
higher for a second session on Thursday, tracking the rebound in
global markets as oil prices bounced from historic lows and
expectations that China's economy is slowly recovering.
 
** At the close of trade, the Hang Seng index  .HSI  was up 0.4%
at 23,977.32. The Hang Seng China Enterprises index  .HSCE  also
rose 0.4%.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 1.3%, the IT sector  .HSCIIT  was flat, the
financial sector  .HSNF  inched 0.1% lower and the property
sector  .HSNP  added 1.1%.
 
** The top gainer on the Hang Seng was Galaxy Entertainment
Group Ltd  0027.HK , which gained 3.6%, while the biggest loser
was Shenzhou International Group Holdings Ltd  2313.HK , which
fell 1.7%.
 
** The Chinese economy will slowly recover from its first
quarterly contraction since current records began, economists
predicted in a Reuters poll, but they warned of a likely
recession if conditions worsen again from the global coronavirus
pandemic.  urn:newsml:reuters.com:*:nL4N2C92DV
    
** The poll found China's gross domestic product (GDP) was
expected to grow just 1.3% in the current quarter from a year
earlier, after contracting 6.8% in January-March. 
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.5%, while Japan's Nikkei index
 .N225  closed up 1.5%. 
    
** Asian markets rose as crude prices rebounded from historic
lows and the U.S. government promised more aid to cushion the
coronavirus-ravaged economy.  MKTS/GLOB 

** The Hong Kong Monetary Authority intervened and sold HK$1.82
billion ($234.81 million) of local currency in New York trading
hours after the Hong Kong Dollar  HKD=D3  hit the strong side of
its 7.75-7.85 per U.S. dollar trading band.  urn:newsml:reuters.com:*:nL3N2CA2CG
 
** About 1.81 billion Hang Seng index shares were traded. The
volume traded in the previous trading session was 1.67 billion.
 
** At close, China's A-shares were trading at a premium of
27.15% over Hong Kong-listed H-shares.  .HSCAHPI 
 
($1 = 7.7511 Hong Kong dollars)

 (Reporting by Noah Sin; Editing by Krishna Chandra Eluri)
 ((Noah.Sin@thomsonreuters.com; +852 5202 7991; Reuters
Messaging: noah.sin.thomsonreuters.com@reuters.net; Twitter: https://twitter.com/noah_sin))