Hong Kong stocks end higher ahead of Fed meet

Wharf Real Estate Investment

30/07/2019 09:35

* HSI +0.1%, HSCE +0.4%, CSI300 +0.4%
    * FTSE China A50 +0.5% 
    * HK->Shanghai Connect daily quota used -0.3%
    * Shanghai->HK daily quota used 4%

    SHANGHAI, July 30 (Reuters) - Hong Kong shares closed higher
on Tuesday as investors awaited an expected U.S. interest rate
cut this week, while Sino-U.S. trade negotiations are due to
begin later in the day.
    ** The Hang Seng index  .HSI  rose 0.1%, to 28,146.50
points, while the China Enterprises Index  .HSCE  gained 0.4%,
to 10,818.35.
    ** The U.S. Federal Reserve is scheduled to begin a two-day
policy meeting later on Tuesday, at which it is widely expected
to lower interest rates by 25 basis points. If implemented, it
would be the central bank's first rate cut in a decade.
    ** Also in focus were U.S.-China trade talks due to begin in
Shanghai on Tuesday, although expectations for progress during
the two-day meeting are low with the markets hoping the two
sides can at least detail commitments for "goodwill" gestures.
 urn:newsml:reuters.com:*:nL2N24R1PQ 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.19%, while Japan's Nikkei index
 .N225  closed up 0.43%.
    ** The yuan  CNY=CFXS  was quoted at 6.8843 per U.S. dollar
at 08:15 GMT, 0.12% firmer than the previous close of 6.8926. 
    ** The top gainers among H-shares were New China Life
Insurance Co Ltd  1336.HK  up 2.73%, followed by China Pacific
Insurance Group Co Ltd  2601.HK , gaining 2.55% and PICC
Property and Casualty Co Ltd  2328.HK , up by 2.22%.
    ** The three biggest H-shares percentage decliners were
SINOPHARM GROUP CO LTD  1099.HK , which was down 1.68%,
Guangdong Investment Ltd  0270.HK , which fell 1.32% and Anhui
Conch Cement Co Ltd  0914.HK , down by 1.1%.
    ** About 1.18 billion Hang Seng index shares were traded,
roughly 88.7% of the market's 30-day moving average of 1.33
billion shares a day. The volume traded in the previous trading
session was 1.61 billion.
    ** At close, China's A-shares were trading at a premium of
29.69% over Hong Kong-listed H-shares.

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