Hong Kong stocks track Asia higher

Reuters2021-04-22

April 22 (Reuters) - Hong Kong shares closed higher on Thursday, in line with other Asian markets, as investors cheered economic recovery in the United States and other developed markets.

At the close of trade, the Hang Seng index was up 133.42 points, or 0.47%, at 28,755.34. The Hang Seng China Enterprises index rose 0.46% to 10,939.12.

The sub-index of the Hang Seng tracking energy shares dipped 0.1%, the financial sector ended down 0.37%, while the IT sector rose 1.63%, and property sector was up 0.07%.

The top gainer on the Hang Seng was Meituan, which gained 3.47%, while the biggest loser was Geely Automobile Holdings Ltd, which fell 1.78%.

The push-pull of that trading dynamic comes as vaccination rates in Britain and other countries continue to improve and pandemic-weary citizens embrace more freedoms to drive economic growth, something reflected in some recent corporate earnings.

However, worries over Sino-U.S. tensions hurt sentiment.

A bipartisan U.S. congressional push to counteract China picked up steam on Wednesday as a Senate committee overwhelmingly backed a bill pressing Beijing on human rights and economic competition and other lawmakers introduced a measure seeking billions for technology research.

China’s main Shanghai Composite index closed down 0.23% at 3,465.11 points, while the blue-chip CSI300 index ended down 0.19%.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.36%, while Japan’s Nikkei index closed up 2.38%.

The yuan was quoted at 6.4886 per U.S. dollar at 08:39 GMT, 0.03% firmer than the previous close of 6.4903.

At close, China’s A-shares were trading at a premium of 34.05% over Hong Kong-listed H-shares.

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