* HK->Shanghai Connect daily quota used 8.7%, Shanghai->HK daily quota used 1.9%
* HSI +0.1%, HSCE +0.2%, CSI300 +0.0%
* FTSE China A50 -0.1%
Nov 6 (Reuters) - Hong Kong stocks inched up on Friday, with the Hang Seng China Enterprises Index posting its biggest weekly advance since early 2016, as vote counts pushed Biden closer to victory in the U.S. presidential election, raising hopes of decreased tensions between China and the United States.
** The Hang Seng index rose 0.1%, to 25,712.97, while the China Enterprises Index, tracking mainland companies listed in the Asian financial hub, gained 0.2%, to 10,497.80.
** For the week, HSI gained 6.7%, its best week since June 6, while HSCE was up 7.6%, its best week since Feb. 19, 2016.
** While analysts expect little change in U.S. policy towards China whatever the outcome, a Biden administration is expected to bring a more nuanced, multilateral approach to trade.
** U.S. President Donald Trump launched an extraordinary assault on the country’s democratic process from the White House on Thursday, falsely claiming the election was being “stolen” from him.
** Leading the gains for the week, the Hang Seng tech index rose 8.2%.
** Investors could turn to other internet giants, including JD.com and Meituan for the short-term, amid regulatory worries about Ant Group, KGI Securities said in a report.
** China on Tuesday suspended Ant Group’s $37 billion listing, halting the world’s biggest stock market debut. But analysts said this could be positive for Chinese banks as it could mean decreased competition from the tech giant.
** Investors also expected further policy support as Beijing looked to set its next five-year plan.
** China’s policymakers are close to setting an average annual economic growth target of around 5% for the next five years, at the lower end of ranges previously considered, as global risks cloud the outlook, policy sources said. (Reporting by Luoyan Liu and Andrew Galbraith. Editing by Jane Merriman)
Nuestros Estándares: Los principios Thomson Reuters.