Hong Kong stocks close higher on telecoms support

Hong Kong shares settled higher on Tuesday for a fifth straight session, led by telecom stocks after the New York Stock Exchange said it would not delist three Chinese telecom firms targeted by the outgoing Trump administration. ** At the close of trade, the Hang Seng index was up 177.05 points, or 0.64%, at 27,649.86.

Hong Kong shares settled higher on Tuesday for a fifth straight session, led by telecom stocks after the New York Stock Exchange said it would not delist three Chinese telecom firms targeted by the outgoing Trump administration.

** At the close of trade, the Hang Seng index was up 177.05 points, or 0.64%, at 27,649.86. The Hang Seng China Enterprises index rose 0.48% to 10,774.15. ** Leading the gains, the Hang Seng telecommunications index jumped 4.5%.

** The New York Stock Exchange said it had made the decision "in light of further consultation with relevant regulatory authorities." ** The IT sector rose 0.52%, the financial sector ended 0.21% higher and the property sector climbed 0.82%.

** The top gainer on the Hang Seng was China Unicom Hong Kong Ltd, which rose 8.5%, while the biggest loser was China Overseas Land & Investment Ltd, which fell 4.24%. ** China's main Shanghai Composite index closed up 0.73% at 3,528.68, while the blue-chip CSI300 index ended up 1.91%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.12%, while Japan's Nikkei index closed down 0.37%. ** The yuan was quoted at 6.4613 per U.S. dollar at 08:14 GMT, 0.01% firmer than the previous close of 6.462.

** At close, China's A-shares were trading at a premium of 40.75% over Hong Kong-listed H-shares.

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