HK shares track global equities higher on stimulus hopes, vaccine boost

  • 12/16/2020
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* HK->Shanghai Connect daily quota used 7.8%, Shanghai->HK daily quota used 0.6% * HSI +1.0%, HSCE +0.6%, CSI300 +0.2% * FTSE China A50 +0.6% BEIJING/SHANGHAI, Dec 16 (Reuters) - Hong Kong shares edged up on Wednesday, with tech and healthcare stocks leading the gains, while the index tracked global equities higher on positive vaccine news and stimulus hopes. ** At the close of trade, the Hang Seng index was up 253.00 points or 0.97% at 26,460.29. The Hang Seng China Enterprises index rose 0.6% to 10,461.9. ** The sub-index of the Hang Seng tracking IT sector rose 1.48%, the financial sector ended 0.71% higher and the property sector rose 0.93%. ** Investors seemed to have shrugged off deep losses in Hong Kong-listed shares of Semiconductor Manufacturing International Corp after the chipmaker fell up to 9.6% on report of a key executive’s decision to leave the company. ** The top gainer in the Hang Seng was Techtronic Industries Co Ltd, which gained 5.11%, while the biggest loser was Industrial and Commercial Bank of China Ltd, which fell 1.27%. ** Overnight, global stocks gained as positive coronavirus vaccine news and progress toward further U.S. fiscal stimulus and a Brexit deal encouraged investors to embrace risk. ** China’s main Shanghai Composite index closed flat at 3,366.98 points, while the blue-chip CSI300 index ended up 0.18%, with consumer stocks lifted by data-fueled confidence on economic recovery. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.26%, while Japan’s Nikkei index closed up 0.26%.

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