Hong Kong shares close higher on bargain hunting in tech shares

Hong Kong shares ended higher on Wednesday, with tech shares leading gains on bargain hunting following a sell-off in the previous session, while a settlement between Chinese smartphone maker Xiaomi Corp and the U.S. government also lifted sentiment. ** At the close of trade, the Hang Seng index was up 217.23 points, or 0.78% at 28,231.04.

Hong Kong shares ended higher on Wednesday, with tech shares leading gains on bargain hunting following a sell-off in the previous session, while a settlement between Chinese smartphone maker Xiaomi Corp and the U.S. government also lifted sentiment.

** At the close of trade, the Hang Seng index was up 217.23 points, or 0.78% at 28,231.04. The Hang Seng China Enterprises index rose 1.2% to 10,556.57. ** The sub-index of the Hang Seng tracking the IT sector rose 3.5% and the energy sector rose 0.7%. ** The financial sector ended 0.49% lower, while the property sector dipped 0.75%. ** The top gainer on the Hang Seng was Xiaomi Corp, which gained 6.1%, after the company and the U.S. Defense Department agreed to resolve their litigation. ** The top gainers among H-shares were Xiaomi Corp up 6.1%, followed by Alibaba Group Holding Ltd, up 6.07%, and JD.Com Inc, which rose 5.22%. ** The biggest H-shares percentage decliner was Longfor Group Holdings Ltd, down 3.48%, after Beijing held a meeting on Tuesday to discuss property tax to curb speculation in the housing market.

** China's main Shanghai Composite index ended up 0.61% at 3,462.75 points, while the blue-chip CSI300 index ended up 0.43%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.77%, while Japan's Nikkei index closed 1.61% lower. ** The yuan was quoted at 6.4438 per U.S. dollar at 08:16 GMT, 0.24% weaker than the previous close of 6.4283.

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