September 20, 2018 / 8:52 AM / 3 months ago

Hong Kong stocks end higher as investors brush aside trade war fears

Sept 20 (Reuters) - Hong Kong stocks ended higher for a third straight session on Thursday, helped by consumer and technology shares, as sentiment improved after the Sino-U.S. trade war unfolded in ways less damaging than feared.

** The Hang Seng index ended 0.3 percent higher at 27,477.67, while the China Enterprises Index closed 0.5 percent firmer at 10,792.59 points.

** The sub-index of the Hang Seng tracking energy shares ended 0.7 percent lower, while the IT sector closed up 0.53 percent, the financial sector ended 0.43 percent higher and property sector closed 0.32 percent weaker. ** The top gainer on Hang Seng was China Mengniu Dairy Co Ltd , up 2.08 percent, while the biggest loser was Wharf Real Estate Investment Company Ltd, which ended down 1.76 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.23 percent, while Japan’s Nikkei index closed up 0.01 percent. ** The yuan was quoted at 6.8541 per U.S. dollar, as of 0833 GMT, 0.05 percent weaker than the previous close of 6.8506. ** The top gainers among H-shares were Air China Ltd, which ended 2.09 percent higher, followed by China Minsheng Banking Corp Ltd, which ended 1.94 percent firmer and ZhongAn Online P&C Insurance Co Ltd, which closed up 1.9 percent. ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, which ended down 2.30 percent, China Galaxy Securities Co Ltd, which closed 1.9 percent weaker and CNOOC Ltd, which closed down 1.7 percent. ** About 1.44 billion Hang Seng index shares were traded, roughly 80.4 percent of the market’s 30-day moving average of 1.79 billion shares a day. The volume traded in the previous trading session was 1.93 billion. ** At close, China’s A-shares were trading at a premium of 18.98 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.6, as of the last full trading day, while the dividend yield was 3.5 percent. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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