Hong Kong stocks close at 6-week high on trade talk optimism

Sino Land

13/09/2019 09:57

* Hang Seng ends up 1% at highest since Aug 1; H-shares add
0.9%
    * Trump wants full deal with Beijing after goodwill gestures
    * Mainland China markets closed for holiday; HK trading thin

    HONG KONG, Sept 13 (Reuters) - Hong Kong shares ticked up on
Friday and clocked their second straight weekly gain on signs of
progress in U.S.-China trade talks and tracking broad optimism
in regional markets.
    
** At the close of trade, the Hang Seng index  .HSI  was up
almost 1% at 27,352.69, its highest close since Aug. 1. The
index was up 2.5% on a weekly basis, its second consecutive
weekly gain.
** The Hang Seng China Enterprises index  .HSCE  added 0.9% on
Friday, adding 2.5% in the week.
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 0.7%, the IT sector  .HSCIIT  gained 0.4%, the
financial sector  .HSNF  ended 1.1% higher and the property
sector  .HSNP  was up 0.9%.
** The top gainer on the Hang Seng was Geely Automobile Holdings
Ltd  0175.HK , which gained 4.8%, while the biggest loser was
Sino Land Co Ltd  0083.HK , which fell 0.8%.
** U.S. President Donald Trump said on Thursday he preferred a
comprehensive trade deal with China, but did not rule out the
possibility of an interim pact, even as he said an "easy"
agreement would not be possible.  urn:newsml:reuters.com:*:nL3N2631SW
** Lower-level U.S. and Chinese officials are expected to meet
next week in Washington ahead of talks between senior trade
negotiators in early October. Top-level negotiators last met
face-to-face in China in July.
** The two sides have been making conciliatory gestures this
week. China renewed purchases of U.S. farm goods and Trump
delayed a tariff increase on certain Chinese goods by two weeks.
** Reuters reported on Friday that Beijing has called on its
biggest state firms to step up investment and assert more
control of companies in the financial hub, in an attempt to calm
months of unrest in the city.  urn:newsml:reuters.com:*:nL3N26225W
** Hong Kong leader Carrie Lam has promised to prioritise
housing and people's livelihoods to appease deep rooted
discontent about the way the city has been governed.
 urn:newsml:reuters.com:*:nL3N2640BL
** Financial markets in Mainland China were closed on Friday for
the Mid-Autumn Festival and will resume trade on Monday, Sept.
16.  urn:newsml:reuters.com:*:nL3N263115
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.6%, while Japan's Nikkei index
 .N225  closed up 1.1%.

 (Reporting by the Shanghai Newsroom; Editing by Subhranshu
Sahu)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))