28 de noviembre de 2016 / 8:22 / hace 10 meses

Hong Kong stocks touch 3-week high; Shenzhen connect boost small-caps

Nov 28 (Reuters) - Hong Kong’s stock market climbed to the highest closing level in nearly three weeks on Monday, with small-caps rising sharply in response to regulators announcing that a trading link between Hong Kong and Shenzhen will launch on Dec. 5.

Sentiment was also aided by a pull-back in the surging U.S. dollar, which had stirred worries about capital flight from emerging markets to the United States.

The Hang Seng index rose 0.5 percent, to 22,830.57, while the China Enterprises Index gained 0.9 percent, to 9,875.54 points.

Small-caps, which will be included in the Shenzhen-Hong Kong Stock Connect, were the biggest gainers, with the Hang Seng Composite SmallCap Index jumping 1.8 percent to a one-month high. In contrast, Shenzhen’s start-up board ChiNext fell on Monday.

“The Connect will benefit Hong Kong stocks more, because more money will flow southward due to yuan depreciation worries, and the huge discount Hong Kong small-caps enjoy,” said David Dai, Shanghai-based investor director at Nanhai Fund Management Co.

Shares rose across the board, with information technology leading the gain.

Index heavyweight Tencent Holding Ltd added nearly 1.6 percent. (Reporting by Jackie Cai and John Ruwitch; Editing by Simon Cameron-Moore)

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