HK stocks rise on energy boost, though Sino-West tensions weigh

  • 5/6/2021
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* HK->Shanghai Connect daily quota used 3.3%, Shanghai->HK daily quota used -0.3% * HSI +0.8%, HSCE +0.3%, CSI300 -1.2% * FTSE China A50 -1.3% May 6 (Reuters) - Hong Kong stocks eked out gains on Thursday, helped by energy firms, though the upmove was capped by tensions between China and the West. ** At the close of trade, the Hang Seng index was up 219.48 points, or 0.77%, at 28,637.46. The Hang Seng China Enterprises index rose 0.32% to 10,756.37. ** The sub-index of the Hang Seng tracking energy shares rose 2.4%, while the IT sector climbed 0.26%, the financial sector ended 0.88% higher which the property sector closed 0.35% firmer. ** The top gainer on the Hang Seng was Budweiser Brewing Company APAC Ltd, which gained 4.94%, while the biggest loser was Haidilao International Holding Ltd, which fell 7.4%. ** However, tensions between China and other western countries weighed. The European Union took steps on Wednesday to guard against economic competition from China that it deems unfair, a sign of growing distrust after Western sanctions over rights abuses and Chinese retaliation. ** China “indefinitely” suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for their strained relations. ** China’s main Shanghai Composite index closed down 0.16% at 3,441.28 points, while the blue-chip CSI300 index ended down 1.22%. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.26%, while Japan’s Nikkei index closed up 1.8%. ** The yuan was quoted at 6.476 per U.S. dollar at 0825 GMT, 0.02% weaker than the previous close of 6.4745. ** At close, China’s A-shares were trading at a premium of 34.66% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips) Our Standards: The Thomson Reuters Trust Principles.

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