June 27, 2019 / 8:41 AM / 3 months ago

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

* Hang Seng index closes up 1.42%

* China Enterprises index HSCE rises 1.22%

* HSI financial sector sub-index up 1.5%; property sector up 1%

June 27 (Reuters) - Shares in Hong Kong rose on Thursday, extending the previous day’s cautious gains, as investors’ hopes of a trade truce between the United States and China rose ahead of a highly anticipated meeting between the countries’ leaders. ** At the close of trade, the Hang Seng index was up 399.44 points or 1.42% at 28,621.42, adding to the previous day’s 0.1% gain. The Hang Seng China Enterprises index rose 1.22% to 10,897.13. ** The sub-index of the Hang Seng tracking energy shares rose 0.5%, while the IT sector rose 1.86%, the financial sector ended 1.51% higher and the property sector rose 0.97%. ** U.S. President Donald Trump said on Wednesday a deal with his Chinese counterpart Xi Jinping was possible this weekend, but that he was prepared to impose U.S. tariffs on virtually all remaining Chinese imports if the two countries continue to disagree. ** Adding to hopes for a trade war resolution, the South China Morning Post reported, citing sources, that the United States and China had agreed to a tentative truce ahead of the meeting between Xi and Trump. ** The top gainer on the Hang Seng was Sunny Optical Technology Group Co Ltd, which gained 4.03%, while the biggest loser was CK Infrastructure Holdings Ltd, which fell 0.31%. ** China’s main Shanghai Composite index closed up 0.69% at 2,996.79, while the blue-chip CSI300 index ended up 1.07%. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.86%, while Japan’s Nikkei index closed up 1.19%. ** The yuan was quoted at 6.8771 per U.S. dollar at 08:26 GMT, 0.05% firmer than the previous close of 6.8803. ** The top gainers among H-shares were CITIC Securities Co Ltd up 4.54%, followed by Shenzhou International Group Holdings Ltd, gaining 4% and Guangzhou Automobile Group Co Ltd, up by 3.69%. ** The biggest H-shares percentage decliners were China Gas Holdings Ltd, which was down 0.50% and Guangdong Investment Ltd, which fell 0.25%. (Reporting by Andrew Galbraith; editing by Gopakumar Warrier)

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