January 22, 2018 / 10:13 AM / 3 months ago

Hong Kong stocks close at record high on mainland money inflows

* Hang Seng index ends up 0.4 pct

* China Enterprises index HSCE rises 0.2 percent

* HSI financial sector sub-index is flat; property sector up 0.6 percent.

Jan 22 (Reuters) - Hong Kong’s benchmark Hang Seng Index rose to a fresh record on Monday, as mainland money continued to gush into the city’s stocks. ** Chinese investors used 45 percent of the daily quota under the Shanghai-Hong Kong Stock Connect.

** At close of trade, the Hang Seng index was up 138.52 points or 0.43 percent at 32,393.41. The Hang Seng China Enterprises index rose 0.19 percent to 13,204.58. **The sub-index of the Hang Seng tracking energy shares rose 0.9 percent while the IT sector rose 1.57 percent, the financial sector was 0.12 percent lower and property sector rose 0.63 percent. ** The top gainer on Hang Seng was China Resources Land Ltd up 6.36 percent, while the biggest loser was Industrial and Commercial Bank of China Ltd which was down 1.39 percent. ** China’s main Shanghai Composite index closed up 0.39 percent at 3,501.3622 points while its blue-chip CSI300 index ended up 1.19 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.29 percent while Japan’s Nikkei index closed up 0.03 percent. ** The yuan was quoted at 6.4019 per U.S. dollar at 09:35 GMT, 0.02 percent firmer than the previous close of 6.403. ** So far this year, the Hang Seng index is up 8.27 percent, while China’s H-share index is up 12.8 percent. As of the previous close, the Hang Seng has risen 8.27 percent this month. ** The top gainers among H-shares were BYD Co Ltd up 8.19 percent, followed by People’s Insurance Group of China Co Ltd gaining 5.49 percent and Ping An Insurance Group Co of China Ltd up by 3.05 percent. ** The three biggest H-shares percentage decliners were China Minsheng Banking Corp Ltd which was down 1.99 percent, Agricultural Bank of China Ltd which fell 1.8 percent and New China Life Insurance Co Ltd down by 1.6 percent. ** About 2.97 billion Hang Seng index shares were traded, roughly 143.2 percent of the market’s 30-day moving average of 2.07 billion shares a day. The volume traded in the previous trading session was 3.00 billion. ** At close, China’s A-shares were trading at a premium of 27.87 percent over the Hong Kong-listed H-shares.. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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