Hong Kong shares rise to 1-mth high but investors wary of event risks

viernes 3 de junio de 2016 04:08 GYT
 

June 3 - Hong Kong shares rose to one-month highs on Friday to cap a third straight week of gains, but trading remained thin, reflecting investor caution of a possible U.S. rate hike later this month.

Worries about the health of the Chinese economy and Britain's referendum on June 23 on whether it should remain in the European Union are also tempering risk appetite.

The Hang Seng index rose 0.4 percent, to 20,947.24, while the China Enterprises Index gained 0.6 percent, to 8,809.81 points.

For the week, Hang Seng was up 1.8 percent.

Most shares rose on Friday, with the utility sector leading the gains.

Shares of Dah Sing Financial Holdings Ltd rose 3 percent, on news that the bank has agreed to sell its insurance business to China's Thaihot Group Co Ltd for $1.4 billion in the city's most expensive insurance deal ever.

(Samuel Shen and Pete Sweeney; Editing by Shri Navaratnam)