February 5, 2020 / 8:51 AM / 5 months ago

Hong Kong stocks extend gains on hopes of China policy support

* Hang Seng +0.4%, H-shares +0.6%

* China readies more measures to stabilise economy -sources

* Airlines halt Hong Kong flights, cruise ship quarantined

SHANGHAI/HONG KONG, Feb 5 (Reuters) - Hong Kong stocks gained for the third straight session on Wednesday as investors bet on further policy support from Beijing to offset the economic impact of a rapidly spreading coronavirus. ** At the close of trade, the Hang Seng index was up 0.4% at 26,786.74. The Hang Seng China Enterprises index rose 0.6%. ** The sub-index of the Hang Seng tracking energy shares rose 0.9%, the IT sector gained 0.2%, the financial sector ended 0.5% higher and the property sector edged up 0.1%. ** The top gainer on the Hang Seng was CSPC Pharmaceutical Group Ltd, which gained 4.5%, while the biggest loser was Sunny Optical Technology Group Co Ltd, which fell 2.7%. ** Reuters reported on Tuesday Chinese policymakers are readying measures to support the economy jolted by the coronavirus outbreak that is expected to have a devastating impact on first-quarter growth. ** The death toll in mainland China passed 490, as two U.S. airlines suspended flights to Hong Kong following the first fatality there and 10 cases were confirmed on a quarantined Japanese cruise ship. ** Hong Kong’s Cathay Pacific Airways Ltd has asked all its 27,000 employees to take three weeks of unpaid leave in coming months as it battles a fall in demand caused by the virus outbreak, the company said. ** The city has confirmed 18 cases so far. The outbreak invoked memories of Severe Acute Respiratory Syndrome (SARS), another coronavirus that emerged from China in 2002, which killed almost 800 people worldwide and cost the global economy an estimated $33 billion. ** China’s main Shanghai Composite index and CSI300 index also rose on hopes of further policy support from Beijing. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.4%, while Japan’s Nikkei index closed up 1%. ** Nearly 2.50 billion Hang Seng index shares were traded - almost the same as the volume in the previous trading session. (Reporting by Luoyan Liu in Shanghai and Noah Sin in Hong Kong; Editing by Subhranshu Sahu)

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below