Hong Kong stocks join global market rebound as trade war fears ease

Zhuzhou CRRC Times Electric

27/03/2018 09:36

* HK->Shanghai Connect daily quota used 13.1 pct,
Shanghai->HK
daily quota used 6.8 pct
    * HSI +0.8 pct, HSCE +0.9 pct, CSI300 +0.9 pct
    * HSI financial sector sub-index is flat; property sector up
1
percent.

    March 27 (Reuters) - Hong Kong stocks rose on Tuesday,
joining a global market rebound triggered by hopes that a
damaging trade war between the United States and China could be
averted.
    
** The abrupt mood swing came amid reports Chinese and U.S.
officials were busy negotiating to avert an all-out trade war. 
    
** White House officials are asking China to cut tariffs on
imported cars, allow foreign majority ownership of financial
services firms and buy more U.S.-made semiconductors.
 urn:newsml:reuters.com:*:nL3N1R85SF 
    Chinese Premier Li Keqiang on Monday pledged to maintain
trade negotiations and ease access to American businesses.

** The Hang Seng index  .HSI  rose 0.8 percent to 30,790.83,
while the China Enterprises Index  .HSCE  gained 0.9 percent to
12,301.55 points.
 
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  gained 0.1 percent, while the IT sector  .HSCIIT  rose
1.46 percent, the financial sector  .HSNF  was 0.45 percent
higher and property sector  .HSNP  climbed 0.99 percent.
 
** The top gainer on Hang Seng was China Unicom Hong Kong Ltd
 0762.HK , which climbed 5.47 percent, while the biggest loser
was WH Group Ltd  0288.HK , which ended 3.24 percent down.
 
** China's main Shanghai Composite index  .SSEC  closed up 1.04
percent at 3,133.7218 points, while its blue-chip CSI300 index
 .CSI300  ended 0.86 percent higher.
 
 ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.91 percent, while Japan's Nikkei
index  .N225  ended 2.65 percent higher.
 
 ** The yuan  CNY=CFXS  was quoted at 6.2722 per U.S. dollar at
0819 GMT, 0.14 percent firmer than the previous close of 6.2807.
 
** As of previous trading session, the Hang Seng index was up
2.1 percent this year, while China's H-share index was up 4.2
percent. As of previous close, the Hang Seng declined 0.96
percent this month. 
 
** The top gainers among H-shares were Sinopharm Group Co
 1099.HK , which rose 5.85 percent, followed by China Vanke Co
Ltd  2202.HK , which gained 4.78 percent and China Gas Holdings
Ltd  0384.HK , which climbed 3.19 percent.
 
** The three biggest H-shares percentage decliners were People's
Insurance Group of China Co Ltd  1339.HK , which was down 2.51
percent, PICC Property and Casualty Co Ltd  2328.HK , which
dropped 2.4 percent and Zhuzhou CRRC Times Electric Co Ltd
 3898.HK  slipped by 1.4 percent.
 
** About 2.11 billion Hang Seng index shares were traded,
roughly 102.1 percent of the market's 30-day moving average of
2.07 billion shares a day. The volume traded in the previous
trading session was 2.39 billion shares.
 
** At close, China's A-shares were trading at a
premium of 24.40 percent over the Hong Kong-listed H-shares.
 
** The price-to-earnings ratio of the Hang Seng index was 12.57
as of the last full trading day, while the dividend yield was 3
percent.

 (Reporting by the Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))