Hong Kong stocks rise as Trump sparks trade deal hopes
Hong Kong stocks ended the week on an upbeat note on Friday, after hopes of an interim U.S.-China trade deal were renewed by President Donald Trump's comment that the talks were "moving right along". ** The Hang Seng index rose 1.1% to 26,498.37, while the China Enterprises Index gained 0.8% to 10,407.18 points.
** Sentiment was also lifted by signs that mainland Chinese investors had been hunting for bargains in the city, amid violent street protests and economic gloom that have sliced valuations. Chinese investors more than doubled their Hong Kong stocks purchases this year, exchange data shows. ** The sub-index of the Hang Seng tracking energy shares closed up 0.1%, the IT sector gained 1.7%, the financial sector ended 0.89% higher and the property sector advanced 1.1%. ** The top gainer on the Hang Seng was AAC Technologies Holdings Inc, which gained 8.97%, while the biggest loser was Hong Kong and China Gas Co Ltd, which fell 0.27%. ** China's main Shanghai Composite index closed up 0.43% at 2,912.01 points, while the blue-chip CSI300 index ended up 0.59%. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.53%, while Japan's Nikkei index closed up 0.23%. ** The yuan was quoted at 7.0332 per U.S. dollar at 08:26 GMT, 0.16% firmer than the previous close of 7.0444. ** The top gainers among H-shares were Want Want China Holdings Ltd up 3.68%, followed by Anhui Conch Cement Co Ltd , gaining 2.77%, and China Railway Group Ltd, up by 2.01%. ** The three biggest H-shares percentage decliners were ENN Energy Holdings Ltd, which was down 1.33%, Guangdong Investment Ltd, which fell 0.97%, and China Gas Holdings Ltd, down by 0.85%.
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