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UPDATE 1-Hang Seng notches 16-week closing high as Biden odds improve; Shanghai up

* Hang Seng +3.25%, highest close since July 13

* SSEC +1.30%, CSI300 +1.48%

* Apple suppliers gain on hopes for easing Sino-U.S. tensions

* Hong Kong tech shares gain after Ant IPO halted (Recasts, adds analyst comment and updates to Hong Kong close)

SHANGHAI, Nov 5 (Reuters) - Hong Kong’s Hang Seng Index soared to its highest close in more than three months on Thursday and China A-shares gained as U.S. election results showed a firming lead for Democratic challenger Joe Biden in the U.S. presidential election.

With financial markets braced for days or even weeks of uncertainty as Trump has opened a multi-pronged attack on vote counts in several states by pursuing lawsuits and a recount, investors have welcomed any indication of a clear winner.

“As long as we have a president, the stock market will celebrate,” a Shanghai-based brokerage manager said.

The Hang Seng jumped 3.25% on the day, its biggest one-day rise since July 6, to finish at 25,695.92, its highest close since July 13.

The Hang Seng China Enterprises Index in Hong Kong gained 3.76%.

Hong Kong shares also received a lift after regulators abruptly suspended what was set to be the world’s largest stock market debut of Ant Financial Group.

The Hang Seng Tech Index booked a 5.45% gain on the day as investors made use of cash freed up by the aborted IPO attempt.

“Provided this is company specific, additional liquidity should make its way into other tech stocks, as Hong Kong will continue to experience inflows provided more companies issue secondary listings and IPOs,” said Carlos Casanova, senior Asia economist at Union Bancaire Privee in Hong Kong.

In mainland A-shares, the Shanghai Composite index rose 1.3% and the blue-chip CSI300 index gained 1.48%.

New energy firms and Apple suppliers benefited from expectations of easing Sino-U.S. tensions and hopes that a Biden White House would invest more in renewable energy.

The CSI new energy sub-index gained 4.28%.

“The election is likely to reduce the tightening relationship between the U.S. and China ... this would have a positive impact on China stocks,” said Patrick Yiu, managing director of CASH Asset Management in Hong Kong.

The yuan strengthened to 6.6381 in early trade, its highest level against the dollar since July 2018, before trimming gains. It was trading at 6.64434 per U.S. dollar at 0711 GMT.

Whatever the result of the election, ties between U.S. and Chinese financial markets are only set to deepen, despite the trans-Pacific trade war and rocky diplomatic relations.

Reporting by Andrew Galbraith; editing by Uttaresh.V and Angus MacSwan

Nuestros Estándares: Los principios Thomson Reuters.

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