February 23, 2016 / 8:10 AM / 4 days ago

Hong Kong stocks close at 6-week high as developers, financials lend support

* HK->Shanghai Connect daily quota used 4.3%, Shanghai->HK daily quota used 0%

* HSI +1.8%, HSCE +1.6%, CSI300 -0.7%

* FTSE China A50 -0.8%

Sept 11 (Reuters) - Hong Kong stocks closed at their highest since early August on Wednesday, boosted by property and financial firms, while China’s move to exempt some U.S. goods from retaliatory tariffs boosted market sentiment.

** The Hang Seng index rose 1.8%, to 27,159.06, while the China Enterprises Index gained 1.6%, to 10,565.01.

** China announced exemptions for 16 types of U.S. products from additional retaliatory duties, in a move that comes as trade negotiators from the two countries prepare to meet later this month to try and de-escalate their protracted tariff row.

** But senior White House adviser Peter Navarro tamped down expectations for the next rounds of trade talks, urging investors, businesses and the public to be patient about resolving trade dispute.

** A pause in protests also seemed to help boost sentiment. Hong Kong activists called off protests on Wednesday in remembrance of the Sept. 11, 2001, attacks on the United States and denounced a Chinese state newspaper report that they were planning “massive terror” in the Chinese-ruled city.

** Most sectors gained ground, with property and financial firms rising 2.5% and 2.1%, respectively.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.72%, while Japan’s Nikkei index closed up 0.96%.

** The yuan was quoted at 7.1168 per U.S. dollar at 08:14 GMT, 0.05% weaker than the previous close of 7.113.

** The top gainers among H-shares were China Shenhua Energy Co Ltd up 3.79%, followed by Industrial and Commercial Bank of China Ltd, gaining 3.07%, and Hengan International Group Company Ltd, up by 3.03%.

** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which was down 2.44%, CSPC Pharmaceutical Group Ltd, which fell 1.81%, and China Telecom Corp Ltd, down by 1.33%.

** At close, China’s A-shares were trading at a premium of 28.34% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

Nuestros Estándares:Los principios Thomson Reuters
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