Hong Kong shares rebound; CEFC-related stock plunges on probe news

Virtual Mind Holding Co

01/03/2018 08:45

* HK->Shanghai Connect daily quota used 4.3 pct
    * Shanghai->HK daily quota used 18 pct
    * HSI +0.7 pct, HSCE +0.4 pct, CSI300 +0.6 pct
    * CEFC Hong Kong Financial Investment tumbles on CEFC probe
news

    March 1 (Reuters) - Hong Kong shares rebounded on Thursday
after two days of sharp falls, with news regarding a probe into
CEFC China Energy chairman had limited impact on market
sentiment.
    
** CEFC Chairman Ye Jianming has been investigated for suspected
economic crimes, a person with direct knowledge of the matter
said on Thursday.  L4N1QJ1YU  CEFC Hong Kong Financial
Investment  1520.HK , which is related to CEFC, plunged nearly
30 percent.
    
** The probe had limited impact on the broader market. The Hang
Seng index  .HSI  rose 0.7 percent to 31,044.25, while the China
Enterprises Index  .HSCE  gained 0.4 percent to 12,428.88.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped 0.7 percent while the IT sector  .HSCIIT  rose
2.83 percent, the financial sector  .HSNF  was 0.56 percent
higher and property sector rose 1.51 percent.
 
** The top gainer on Hang Seng was Sino Land Co Ltd  0083.HK  up
4.19 percent, while the biggest loser was Want Want China
Holdings Ltd  0151.HK  which was down 2.27 percent.
 
** The Shanghai Composite Index  .SSEC  closed up 0.44 percent
at 3,273.75, while the blue-chip CSI300 index  .CSI300  gained
0.63 percent to 4,049.09.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.11 percent while Japan's Nikkei
index  .N225  closed down 1.56 percent .
 
** The yuan  CNY=CFXS  was quoted at 6.3415 per U.S. dollar at
08:16 GMT, 0.28 percent weaker than the previous close of 6.324.
 
** As of the previous trading session, the Hang Seng index was
up 3.09 percent this year, while China's H-share index was up
5.7 percent. The Hang Seng has declined 6.21 percent this month,
until Wednesday.
 
** The top gainers among H-shares were PICC Property and
Casualty Co Ltd  2328.HK  up 2.45 percent, followed by Ping An
Insurance Group Co of China Ltd  2318.HK  gaining 1.62 percent
and Postal Savings Bank of China Co Ltd  1658.HK  up by 1.44
percent.
 
** The three biggest H-shares percentage decliners were
PetroChina Co Ltd  0857.HK  which was down 1.63 percent,
Sinopharm Group Co  1099.HK  which fell 1.4 percent and China
Railway Construction Corp Ltd  1186.HK  down by 1.2 percent.
 
** About 2.18 billion Hang Seng index shares were traded,
roughly 73.1 percent of the market's 30-day moving average of
2.98 billion shares a day. The volume traded in the previous
trading session was 2.48 billion.
 
** At close, China's A-shares were trading at a premium of 26.75
percent to the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 13.12
as of the last full trading day while the dividend yield was 2.9
percent. 

 (Reporting by Samuel Shen and John Ruwitch; Editing by
Gopakumar Warrier)
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))