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Hong Kong stocks inch higher as financials lend support

Hong Kong stocks ended marginally higher on Thursday, aided by gains in heavyweight financial firms. ** At the close of trade, the Hang Seng index was up 31.71 points, or 0.13%, at 24,786.13. ** The yuan was quoted at 6.6705 per U.S. dollar at 0834 GMT, 0.31% weaker than the previous close of 6.6502. ** At close, China's A-shares were trading at a premium of 45.67% over Hong Kong-listed H-shares.

Reuters | Updated: 22-10-2020 14:25 IST | Created: 22-10-2020 14:25 IST
Hong Kong stocks inch higher as financials lend support

Hong Kong stocks ended marginally higher on Thursday, aided by gains in heavyweight financial firms.

** At the close of trade, the Hang Seng index was up 31.71 points, or 0.13%, at 24,786.13. The Hang Seng China Enterprises index rose 0.07% to 10,085.18. ** Leading gains, the Hang Seng financials index ended 0.9% higher.

** The sub-index of the Hang Seng tracking energy shares dipped 0.8%, the IT sector dipped 0.19%, and the property sector rose 0.05%. ** The top gainer on the Hang Seng was Sands China Ltd , which gained 5.2%, while the biggest loser was China Unicom Hong Kong Ltd, which fell 11.5%.

** Hong Kong-listed shares of BYD Co Ltd rose as much as 5.1% to an all-time high of HK$146.60 since listing in the city in July 2002 on electric vehicle venture with Hino. ** Investors could remain cautious ahead of the U.S. election and Ant Group's listing, KGI Securities said in a note.

** China will strike a balance between stabilising economic growth and preventing risks, even as debt was allowed to temporarily rise this year to support the coronavirus-hit economy, the head of the central bank Yi Gang said on Wednesday. ** China's main Shanghai Composite index closed down 0.38% at 3,312.50, while the blue-chip CSI300 index ended down 0.31%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.42%, while Japan's Nikkei index closed down 0.7%. ** The yuan was quoted at 6.6705 per U.S. dollar at 0834 GMT, 0.31% weaker than the previous close of 6.6502.

** At close, China's A-shares were trading at a premium of 45.67% over Hong Kong-listed H-shares.

Also Read: China's BYD, Japan's Hino announce electric truck venture


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