Hong Kong stocks nine-month high amid jump in US payrolls

Hong Kong shares ended firmer on Monday, closing at a more than nine-month peak as a jump in U.S. payrolls and hints of more stimulus in China buoyed investor sentiment, while high oil prices lifted energy stocks. ** At the close of trade, the Hang Seng index was up 140.83 points or 0.47 per cent at 30,077.15, its highest close since June 15, 2018. The Hang Seng China Enterprises index rose 0.87 per cent to 11,793.65. ** The sub-index of the Hang Seng tracking energy shares rose 1.6 per cent as oil prices rose to their highest level since November 2018.

The IT sector ended 0.71 per cent higher, while the financial sector closed 0.58 per cent higher and the property sector rose 0.13 per cent. ** In an effort to support the economy, China will step up its policy of targeted cuts to banks' required reserve ratios to encourage financing for small and medium-sized businesses that play a key role in economic growth. ** The top gainer on the Hang Seng was Sino Biopharmaceutical Ltd, which closed 7.11 per cent firmer, while the biggest loser was China Unicom Hong Kong Ltd, which ended 3.01 per cent down. ** China's main Shanghai Composite index closed down 0.05 per cent at 3,244.81 points, while the blue-chip CSI300 index ended 0.12 per cent lower.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.15 per cent, while Japan's Nikkei index closed down 0.21 per cent. ** The yuan was quoted at 6.7205 per U.S. dollar at 0830 GMT, 0.04 per cent weaker than the previous close of 6.7178. ** The top gainers among H-shares were China National Building Material Co Ltd, which ended 7.46 per cent higher, followed by China Tower Corp Ltd, which closed up 5.76 per cent and Anhui Conch Cement Co Ltd, which ended 4.83 per cent higher.

The three biggest H-shares percentage decliners were CITIC Securities Co Ltd, which closed down 1.96 per cent, Air China Ltd, which ended 1.9 per cent lower and China Cinda Asset Management Co Ltd, which closed lower by 1.8 per cent.

(With inputs from agencies.)