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Hong Kong shares track regional rise on COVID-19 vaccine, U.S. stimulus hopes

Hong Kong shares ended higher on Thursday, tracking regional peers, as investors bet on COVID-19 vaccines to help end lockdowns and a Biden administration to bring more economic stimulus to the United States. ** At the close of trade, the Hang Seng index was up 149.70 points, or 0.56%, at 26,819.45.

Reuters | Updated: 26-11-2020 14:25 IST | Created: 26-11-2020 14:25 IST
Hong Kong shares track regional rise on COVID-19 vaccine, U.S. stimulus hopes

Hong Kong shares ended higher on Thursday, tracking regional peers, as investors bet on COVID-19 vaccines to help end lockdowns and a Biden administration to bring more economic stimulus to the United States.

** At the close of trade, the Hang Seng index was up 149.70 points, or 0.56%, at 26,819.45. The Hang Seng China Enterprises index rose 1.36% to 10,701.49. ** The sub-index of the Hang Seng tracking energy shares rose 1.9%, while the IT sector rose 2.5% and the financial sector ended 0.69% higher. ** Property shares fell, with the Hang Seng property sub-index giving up 0.93%, as data showed private home prices in Hong Kong slipped 0.6% in October. ** Wharf Real Estate Investment Company Ltd was the biggest loser on the Hang Seng, falling 2.88%. The top gainer was China Petroleum & Chemical Corp, which gained 4.93%. ** Evergrande Property Service Group's Hong Kong IPO was priced at the lower end of expectations to raise $1.8 billion, three sources said, amid investor concern about the financial health of its parent. ** China's main Shanghai Composite index closed up 0.22% at 3,369.73 points, while the blue-chip CSI300 index ended up 0.18%. ** Around the region, MSCI's Asia ex-Japan stock index was up 0.59%, while Japan's Nikkei index closed up 0.91%. ** The yuan was quoted at 6.5713 per U.S. dollar at 08:22 GMT, 0.13% stronger than the previous close of 6.58. ** The top gainers among H-shares were China Pacific Insurance Group Co Ltd, up 5.27%, China Petroleum & Chemical Corp, which rose 4.93%, and Meituan, up 4.9%. ** The three biggest H-shares percentage decliners were China Resources Land Ltd, down 2.2%, CSPC Pharmaceutical Group Ltd, which fell 2.06% and ENN Energy Holdings Ltd, down 1.52%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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