May 2, 2019 / 5:16 AM / a year ago

Hong Kong stocks climb on optimism over Sino-U.S. trade deal

* * Hang Seng index rises 0.63 pct * China Enterprises index HSCE edges up 0.01 percent * HSI financial sub-index climbs 1.2 pct; property up 0.7 pct

HONG KONG, May 2 (Reuters) - Hong Kong stocks gained on Thursday as investors welcomed signs that negotiations to resolve the U.S.-China trade row were moving to higher levels.

** As of midday break, Hong Kong’s main Hang Seng index was up 188.02 points, or 0.63 percent, at 29,887.13, while China’s H-shares index edged up 0.01 percent to 11,543.41.

China markets were closed for Labour Day holiday and will resume trading on Monday, May 6. ** The United States and China are nearing a trade deal that would roll back a portion of the $250 billion in U.S. tariffs on Chinese goods, Politico reported on Wednesday after U.S. Treasury Secretary Steven Mnuchin said the two countries completed “productive” talks in Beijing. ** The sub-index of the Hang Seng tracking energy shares fell 1.3 percent, the IT sector dipped 0.05 percent, while the financial sector climbed 1.18 percent and the property sector rose 0.73 percent.

** The top gainer on the Hang Seng was China Mengniu Dairy Co Ltd, which gained 3.45 percent, while the biggest loser was Hengan International Group Company Ltd, which dropped 2.82 percent. ** The top gainers among H-shares were Huatai Securities Co Ltd up 2.17 percent, followed by CITIC Securities Co Ltd , gaining 1.65 percent and Guangdong Investment Ltd , up by 1.5 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd, which dropped 4.15 percent, Dongfeng Motor Group Co Ltd, which fell 3.5 percent and Great Wall Motor Co Ltd, which slipped 3.4 percent. (Reporting by Donny Kwok; Editing by Sherry Jacob-Phillips)

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