June 4, 2018 / 8:35 AM / a year ago

Hong Kong shares rise as strong U.S. jobs data offsets trade war fears

* Hang Seng index ends up 1.7 pct China Enterprises index HSCE rises 1.9 percent

* HSI financial sector sub-index is 1.5 percent higher; property sector up 2.4 percent.

June 4 (Reuters) - Hong Kong stocks followed Asian markets higher, as strong U.S. jobs data offset worries that tariff wars between the United States and the rest of the world could retard global economic growth.

** The Hang Seng index rose 1.7 percent, to 30,997.98, while the China Enterprises Index gained 1.9 percent, to 12,249.58 points.

** China warned the United States on Sunday that any agreements reached on trade and business between the two countries will be void if Washington implements tariffs and other trade measures, as the two ended their latest round of talks in Beijing. **The sub-index of the Hang Seng tracking energy shares rose 0.5 percent while the IT sector rose 2.45 percent, the financial sector was 1.54 percent higher and the property sector rose 2.43 percent. ** The top gainer on Hang Seng was Country Garden Holdings Co Ltd up 4.97 percent, while the biggest loser was China Resources Power Holdings Co Ltd which was down 1.14 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.22 percent while Japan’s Nikkei index closed up 1.37 percent. ** The yuan was quoted at 6.4122 per U.S. dollar at 08:23 GMT, 0.11 percent firmer than the previous close of 6.4195. ** As of the previous trading session, the Hang Seng index was up 1.92 percent this year, while China’s H-share index was up 2.7 percent. As of the previous close, the Hang Seng has risen 0.08 percent this month. ** The top gainers among H-shares were People’s Insurance Group of China Co Ltd up 8.89 percent, followed by China Vanke Co Ltd gaining 6.6 percent and China Gas Holdings Ltd up by 5.05 percent. ** The three biggest H-shares percentage decliners were Guangdong Investment Ltd which was down 1.30 percent, CNOOC Ltd which fell 0.7 percent and Huaneng Power International Inc down by 0.7 percent. ** About 1.89 billion Hang Seng index shares were traded, roughly 108.3 percent of the market’s 30-day moving average of 1.75 billion shares a day. The volume traded in the previous trading session was 2.86 billion. ** At close, China’s A-shares were trading at a premium of 18.16 percent over the Hong Kong-listed H-shares. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 1.66 percent on the day at 4,633.18 points. (Reporting by the Shanghai Newsroom; Editing by Sunil Nair)

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