Hong Kong shares flip to gains on demand from mainland investors

Hong Kong shares reversed earlier losses to close higher on Wednesday, helped by tech and energy firms following continuous demand from mainland investors seeking lower-valued stocks. ** At the close of trade, the Hang Seng index was up 58.76 points or 0.2% at 29,307.46.

Hong Kong shares reversed earlier losses to close higher on Wednesday, helped by tech and energy firms following continuous demand from mainland investors seeking lower-valued stocks.

** At the close of trade, the Hang Seng index was up 58.76 points or 0.2% at 29,307.46. The Hang Seng China Enterprises index rose 0.37% to 11,651.84. ** The sub-index of the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 1.92%. The financial sector shed 0.15% and the property sector dipped 0.71%. ** Mainland investors on Wednesday poured a net HK$12.3 billion ($1.59 billion) worth of Hong Kong stocks via the Stock Connect linking mainland and the Asian financial hub, attracted by their low valuations.

** In January, the southbound purchases totalled HK$310 billion, the highest on a monthly basis, according to HKEX. ** At close, China's A-shares were trading at a premium of 35.23% over Hong Kong-listed H-shares. ** China's main Shanghai Composite index closed down 0.46% at 3,517.31, while the blue-chip CSI300 index ended down 0.29%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.35%, while Japan's Nikkei index closed up 1%. ** The yuan was quoted at 6.4578 per U.S. dollar at 0819 GMT, down 0.02%.