February 22, 2019 / 8:33 AM / 8 months ago

Hong Kong shares end higher on hopes of Sino-U.S. trade deal

Feb 22 (Reuters) - Hong Kong stocks closed higher on Friday, with investors hopeful that China and the United States will soon reach deal to resolve their trade disputes.

** The Hang Seng index ended up 0.7 percent at 28,816.30, while the China Enterprises Index gained 1.1 percent to 11,427.29 points.

** Investors continue to closely watch high-level talks between U.S. and Chinese trade negotiators in Washington, with little more than a week left before a U.S.-imposed deadline for an agreement expires, triggering higher tariffs. ** Top U.S. and Chinese trade negotiators haggled on Thursday over the details of a set of agreements aimed at ending their trade war, just one week before a Washington-imposed deadline for a deal expires and triggers higher U.S. tariffs. ** Reuters reported exclusively on Wednesday that the two sides are starting to sketch out an agreement on structural issues, drafting language for six memorandums of understanding on proposed Chinese reforms. ** The sub-index of the Hang Seng tracking energy shares rose 0.5 percent, while the IT sector rose 1.23 percent, the financial sector ended 0.44 percent higher and the property sector rose 0.31 percent. ** The top gainer on the Hang Seng was AAC Technologies Holdings Inc, which gained 12.02 percent, while the biggest loser was Want Want China Holdings Ltd, which fell 1.04 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.48 percent, while Japan’s Nikkei index closed down 0.18 percent. ** The yuan was quoted at 6.7166 per U.S. dollar at 08:22 GMT, 0.05 percent firmer than the previous close of 6.7198. ** The top gainers among H-shares were GF Securities Co Ltd up 7.83 percent, followed by Huatai Securities Co Ltd , gaining 7.74 percent and CITIC Securities Co Ltd , up by 7.11 percent. ** The three biggest H-shares percentage decliners were SINOPHARM GROUP CO LTD, which was down 1.32 percent, China Tower Corp Ltd, which fell 1.0 percent and Anhui Conch Cement Co Ltd, down by 1.0 percent. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)

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