Dec 8 Hong Kong stocks rose for the third
straight session on Thursday, drawing some support from Wall
Street although demand was tempered by weakness in mainland
shares after China's falling foreign exchange reserves deepened
capital outflow concerns.
The benchmark Hang Seng index pared some early gains
and added 0.3 percent at the close, to 22,861.84 points, while
the Hong Kong China Enterprises Index gained 0.7
percent, to 9,896.82 points.
Wall Street surged overnight, with the Dow Industrials and
S&P 500 both hitting fresh records, extending their gains since
Republican Donald Trump's victory in the U.S. presidential vote
Still, the upside was limited by a softer close for mainland
shares after China's foreign exchange reserves fell far more
than expected in November to the lowest level in nearly six
The reserves data also seemed to have offset any enthusiasm
from solid trade numbers for the world's second-biggest economy.
Most sectors in Hong Kong rose, with industrial and resource
shares leading the gains.
Trade remained thin as investors were looking ahead to the
outcome of a European Central Bank policy meeting later in the
There's speculation the ECB may widen the type of bonds it
buys, while analysts also suspect it may start preparing
investors for an eventual tapering of its stimulus.
(Reporting by Jackie Cai and John Ruwitch; Editing by Shri