Hong Kong stocks edge higher on materials, industrials

Hong Kong stocks closed slightly higher on Wednesday and snapped five sessions of losses, bolstered by gains in materials and industrial stocks, even as trade tensions and worries over slowing growth lingered.

** The Hang Seng index rose 0.1%, to 25,997.03, while the China Enterprises Index lost 0.2%, to 9,993.34. ** Hong Kong is facing its biggest crisis since it returned from British to Chinese rule in 1997, the head of China's Hong Kong and Macau Affairs Office said on Wednesday, as more protests were set to rock the Asian financial hub.

** The island's economy grew less than expected in the second quarter as trade war and protests bite. ** U.S. President Donald Trump dismissed fears of a protracted trade war with China late Tuesday despite a warning from Beijing that labelling it a currency manipulator would have severe consequences for the global financial order.

** Sector performance was mixed for the day. Gains were led by materials and industrial firms. ** China Molybdenum, the world's second-largest cobalt producer, soared 19.6% following a report that Glencore Plc will halt production at the Mutanda mine, the world's largest cobalt mine.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.01%, while Japan's Nikkei index closed down 0.33%. ** The yuan was quoted at 7.0375 per U.S. dollar at 08:15 GMT, 0.18% weaker than the previous close of 7.025.

** The top gainers among H-shares were ENN Energy Holdings Ltd up 1.92%, followed by Country Garden Holdings Co Ltd, gaining 1.65%, and China Tower Corp Ltd, up by 1.55%. ** The three biggest H-shares percentage decliners were Byd Co Ltd, which was down 4.77%, China Merchants Bank Co Ltd, which fell 2.17%, and CITIC Ltd, down by 1.4%.

** About 1.72 billion Hang Seng index shares were traded, roughly 127.4% of the market's 30-day moving average of 1.35 billion shares a day. The volume traded in the previous trading session was 2.84 billion. ** At close, China's A-shares were trading at a premium of 29.12% over Hong Kong-listed H-shares.

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