Hong Kong stocks end higher as energy, IT shares gain

  • 6/24/2021
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* 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) Our Standards: The Thomson Reuters Trust Principles.

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