January 30, 2019 / 8:51 AM / 6 months ago

Hong Kong stocks end firmer ahead of Fed decision

* .HSI +0.4 pct, .HSCE +0.3 pct All eyes on Fed meeting, hike pause expected

* China to spur consumption amid slowing growth

HONG KONG, Jan 30 (Reuters) - Shares in Hong Kong closed higher on Wednesday as investors bet on the U.S. Federal Reserve to take a pause in hiking interest rates and China to step up efforts to boost decades-low growth. ** At the close of trade, the Hang Seng index was up 0.4 percent at 27,642.85 points, while the Hang Seng China Enterprises index rose 0.3 percent. ** The sub-index of the Hang Seng tracking energy shares ended 1 percent firmer, while the IT sector closed 0.5 percent higher, the financial sector ended 0.3 percent higher and the property sector rose 1.1 percent. ** Investors in the interest rate-sensitive Hong Kong market will be closely watching the U.S. Federal Reserve’s press conference on Thursday afternoon (Eastern Time), after officials conclude their policy meeting. ** Economic indicators appear to suggest that central bank could hold off from a hike this week as signals of a global slowdown mount. ** To spur growth, China on Tuesday unveiled a flurry of measures aimed at boosting sales of items ranging from cars and appliances to information services. ** Shares of China BlueChemical Ltd jumped as much as 11.2 pct, after the company said it expects strong growth in 2018 earnings, while Evergrande Health Industry Group Ltd rose as much as 7 pct after announcing its plan to buy a Swedish supercar company. ** Jiayuan International Group Ltd, which spooked investors earlier this month over debt worries and a plunge in share price, jump as much as 21.9 pct upon resuming trading. ** The top gainer on the Hang Seng was Country Garden Holdings Co Ltd, which gained 4.9 percent, while the biggest drag was AAC Technologies Holdings Inc, which dropped 2 percent. ** China’s main Shanghai Composite index closed down 0.7 percent at 2,575.58 points, while the blue-chip CSI300 index ended 0.8 percent lower, amid worries about China’s slowing economic growth. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.4 percent, while Japan’s Nikkei index closed down 0.52 percent. ** The yuan was quoted at 6.7129 per U.S. dollar, as of 0809 GMT, 0.28 percent firmer than the previous close of 6.7320. ** The top gainers among H-shares were China Vanke Co Ltd , which closed 3.7 percent firmer, followed by China Resources Land Ltd, which ended up 3.6 percent, and Great Wall Motor Co Ltd, which closed 3.5 percent higher. ** The three biggest H-shares percentage decliners were Guangdong Investment Ltd, which ended down 2.6 percent, Sinopharm Group Co Ltd, which closed 2.4 percent lower and Huaneng Power International Inc, which ended down 2.2 percent. ** About 1.88 billion Hang Seng index shares were traded, roughly the same as the volume traded in the previous trading session. ** At close, China’s A-shares were trading at a premium of 16.93 percent over the Hong Kong-listed H-shares. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 0.4 percent on the day at 4,999.69 points. (Reporting by Noah Sin, Editing by Sherry Jacob-Phillips)

Nuestros Estándares:Los principios Thomson Reuters
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