October 24, 2019 / 8:24 AM / 20 days ago

Hong Kong stocks climb on stimulus, policy hopes

* HK->Shanghai Connect daily quota used -0.3%, Shanghai->HK daily quota used 0.6%

* HSI +0.9%, HSCE +0.8%, CSI300 +0.0%

* FTSE China A50 +0.1%

Oct 24 (Reuters) - Hong Kong stocks closed higher on Thursday, on hopes of more stimulus to support the island city’s faltering growth amid political unrest.

** The Hang Seng index rose 0.9% to 26,797.95, while the China Enterprises Index gained 0.8% to 10,532.85.

** The city has announced more measures to bolster growth for the Chinese-ruled city battered by political unrest and facing its first recession in a decade.

** Massive and violent anti-government protests over the past five months have shaken Hong Kong’s reputation as an Asian financial centre and damaged its all important tourism and retail sectors, with many businesses forced to close.

** Hong Kong’s legislature on Wednesday formally withdrew planned legislation that would have allowed extraditions to mainland China, meeting one of five demands of pro-democracy protesters but unlikely to end months of often violent unrest.

** Meanwhile, focus was also on policy signals from the mainland.

** China’s ruling Communist Party will hold a key meeting of its senior leadership next week after an unusually long delay since the last one, state media said, as the country grapples with issues ranging from a slowing economy to unrest in Hong Kong.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.35%, while Japan’s Nikkei index closed up 0.55%.

** The yuan was quoted at 7.0712 per U.S. dollar at 0809 GMT, 0.06% weaker than the previous close of 7.0667.

** About 1.50 billion Hang Seng index shares were traded, roughly 104.9% of the market’s 30-day moving average of 1.43 billion shares a day. The volume traded in the previous trading session was 1.27 billion.

** At close, China’s A-shares were trading at a premium of 28.64% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below