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Hong Kong stocks end higher as energy, IT shares gain

Reuters2021-06-24

  • HK->Shanghai Connect daily quota used 7.3%, Shanghai->HK daily quota used 2.3%
  • HSI +0.2%, HSCE +0.0%, CSI300 +0.2%
  • FTSE China A50 +0.5%

SHANGHAI, June 24 (Reuters) - Hong Kong stocks eked out gains on Thursday, helped by energy and IT firms, with investors reassessing U.S. Federal Reserve statements on inflation and looking to upcoming data for direction.

The Hang Seng index ended 65.39 points or 0.23% higher at 28,882.46. The Hang Seng China Enterprises index rose 0.03% to 10,677.31.

The sub-index of the Hang Seng tracking energy shares rose 0.8%, the IT sector added 0.5%, the financial sector ended 0.01% higher and the property sector dipped 0.19%.

The top gainer on the Hang Seng was Xinyi Solar Holdings Ltd , which gained 3.35%, while the biggest loser was Techtronic Industries Co Ltd , which fell 2%.

Europe released strong manufacturing activity data on Wednesday, while figures on ISM manufacturing and U.S. non-farm payrolls are due next week.

On Wednesday, two Fed officials said a period of high inflation in the United States could last longer than anticipated, just a day after Fed Chair Jerome Powell played down rising price pressures.

Shares of China's property developer Evergrande Group closed up 4.2%, after the company said it had arranged its own funds of HK$13.6 billion ($1.75 billion) to repay bonds due on Monday.

GCL New Energy Holdings Ltd lost 1.9%, after the U.S. banned imports of solar panel material from Chinese company.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.15%, while Japan's Nikkei index closed unchanged for the day.

The yuan was quoted at 6.4738 per U.S. dollar at 0813 GMT, 0.02% firmer than the previous close of 6.4748.

At close, China's A-shares were trading at a premium of 37.80% over Hong Kong-listed H-shares.

($1 = 7.7645 Hong Kong dollars)

(Reporting by the Shanghai Newsroom; editing by Uttaresh.V)

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Comment15

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