Oil surge helps Hong Kong stocks settle higher

Techtronic Industries Co

02/04/2020 09:53

* HK->Shanghai Connect daily quota used 5.7%, Shanghai->HK
daily
quota used 0%
    * HSI +0.8%, HSCE +1.3%, CSI300 +1.6%
    * FTSE China A50 +1.4%

    SHANGHAI, April 2 (Reuters) - Hong Kong stocks erased
earlier losses to close higher on Thursday, led by energy shares
as crude oil futures jumped on hopes for a deal to end the price
war between Saudi Arabia and Russia.  
    ** At the close of trade, the Hang Seng index  .HSI  was up
194.27 points, or 0.84%, at 23,280.06. The Hang Seng China
Enterprises index  .HSCE  rose 1.29% to 9,526.56.
    ** Both indexes lost more than 1% in morning trade on fears
of a deep global recession due to the coronavirus epidemic. 
    ** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  rose 7.1%, as crude oil futures surged after U.S.
President Donald Trump said he expected Saudi Arabia and Russia
to reach a deal soon to end their price war and Russian
President Vladimir Putin called for a solution to "challenging"
oil markets.  urn:newsml:reuters.com:*:nL4N2BP4W3  
    ** The IT sector  .HSCIIT  rose 1.33%, the financial sector
 .HSNF  ended 0.07% lower and the property sector gained 0.36%.
    ** The top gainer on the Hang Seng was PetroChina Co Ltd
 0857.HK , which jumped 9.68%, while the biggest loser was
Techtronic Industries Co Ltd  0669.HK , which fell 3.03%. 
    ** China's main Shanghai Composite index  .SSEC  closed up
1.69% at 2,780.64 points, while the blue-chip CSI300 index
 .CSI300  ended up 1.62%.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.45%, while Japan's Nikkei index
 .N225  closed down 1.37%.
    ** The yuan  CNY=CFXS  was quoted at 7.0988 per U.S. dollar
at 08:33 GMT, compared with the previous close of 7.099. 
     ** China, where the coronavirus outbreak first erupted in
December, logged fewer new infections, but measures restricting
movement have been tightened in some parts of the country due to
fears of more imported cases.  urn:newsml:reuters.com:*:nL4N2BQ1ML 
    ** At close, China's A-shares were trading at a premium of
27.43% over Hong Kong-listed H-shares.

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