Hong Kong shares track global rally on improved economic outlook

Techtronic Industries Co

25/11/2020 08:46

* HSI +0.3%, HSCE -0.5%
    * Profit-taking drag tech index 2.3% lower
    * Hong Kong's Lam says Beijing supports expanding Stock
Connect 

    BEIJING, Nov 25 (Reuters) - Hong Kong shares end higher on
Wednesday, tracking the rallies of stock markets worldwide as
investors cheered an improved global economic outlook, but
profit-taking in tech shares contained the gains. 
 
** At the close of trade, the Hang Seng index  .HSI  was up
81.55 points or 0.31%, at 26,669.75. The Hang Seng China
Enterprises index  .HSCE  fell 0.52% to 10,557.83.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 2.8%, while the IT sector  .HSCIIT  dipped 2.29%,
the financial sector  .HSNF  ended 1.81% higher and the property
sector rose 0.71%.
 
** China's main Shanghai Composite index  .SSEC  closed down
1.19% at 3,362.33 points, while the blue-chip CSI300 index
 .CSI300  ended down 1.28%.
    
** The formal start of U.S. president-elect Joe Biden's
transition to the White House and increasing confidence that a
COVID-19 vaccine would be ready soon ushered in renewed appetite
for global shares.     
    
** Beijing supports further deepening mutual access between the
mainland and Hong Kong financial markets and the expansion of
the scope of the Stock Connect linking the two sides, Hong Kong
Chief Executive Carrie Lam said in her annual policy address,
potentially giving a fresh boost to already strong southbound
money flows.  L4N2IB1HJ     
     
** China's state planner has told local governments to
investigate new energy vehicle (NEV) projects linked to property
developers  Evergrande Group  3333.HK  and Shenzhen Baoneng,
according to a document seen by Reuters.  L1N2IB06J 

** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.56%, while Japan's Nikkei index
 .N225  closed up 0.5%.
 
** The yuan  CNY=CFXS  was quoted at 6.5783 per U.S. dollar at
0816 GMT, 0.22% firmer than the previous close of 6.593. 
 

 (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)
 ((zoey.zhang@thomsonreuters.com))