HK stocks end higher as China GDP data signals economic recovery

Sun Hung Kai Properties

16/04/2021 09:39

* HK->Shanghai Connect daily quota used 8.9%, Shanghai->HK
daily
quota used 3.1%
    * HSI +0.6%, HSCE +1.1%, CSI300 +0.4%
    * FTSE China A50 +0.6%

    April 16 (Reuters) - Hong Kong stocks climbed on Friday to
end the week higher, underpinned by strong GDP growth data
pointing to a continued recovery in China's economy. 
    ** At the close of trade, the Hang Seng index  .HSI  was up
176.57 points or 0.61% at 28,969.71. The Hang Seng China
Enterprises index  .HSCE  rose 1.12% to 11,027.51.
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 2.3%, while the IT sector  .HSCIIT  climbed 1.55%,
the financial sector  .HSNF  ended 0.19% lower and the property
sector rose 0.11%.
    ** For the week, HSI was up 0.9%, while HSCE firmed 0.5%. 
    ** China's economic recovery quickened sharply in the first
quarter from a coronavirus-induced slump earlier last year,
propelled by stronger demand at home and abroad and continued
government support for smaller firms.  urn:newsml:reuters.com:*:nL1N2M905E 
    ** GDP jumped a record 18.3% in the first quarter from a
year earlier, official data showed on Friday, slower than the
19% forecast by economists in a Reuters poll, and following 6.5%
growth in the fourth quarter last year.    
    ** The market would remain range-bound for the short-term,
as China's monetary policy remains adequately balanced now,
CITIC Securities Brokerage (HK) noted in a report. 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.47%, while Japan's Nikkei index
 .N225  closed up 0.14%.
    ** The yuan  CNY=CFXS  was quoted at 6.5225 per U.S. dollar
at 08:17 GMT, 0.01% weaker than the previous close of 6.5216. 
    ** At close, China's A-shares were trading at a premium of
32.33% over Hong Kong-listed H-shares.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))