SHANGHAI May 9 Hong Kong stocks closed on
Tuesday at the highest level in 21 months, aided by a sharp
rebound in resource shares and continuous money inflows from
Sentiment was also aided by signs of stabilisation in China
stocks after sharp falls recently, with the benchmark Shanghai
Composite Index snapping a five-day losing streak.
The Hang Seng index rose 1.3 percent, to 24,889.03,
while the China Enterprises Index gained 1.5 percent, to
Hong Kong bucked the trend in most Asian markets on Tuesday,
as investors searched for the next catalyst following France's
Under the Shanghai-Hong Kong Stock Connect, roughly 15
percent of the daily quota was used in the southbound leg, as
Chinese money continued to flow into Hong Kong shares.
Energy shares rose 1.4 percent as oil inched higher on
expectations OPEC supply cuts will be extended. Raw material
stocks jumped 2.1 percent.
(Reporting by the Shanghai Newsroom; Editing by Jacqueline