Stocks in Hong Kong Get Some Relief Over Expectations For an Early U.S.- China Trade Deal

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Hang Seng Index(26,041.93 points) and Hang Seng China Enterprises Index(10,212.27 points) both gained 0.4% at closing on Thursday.

Stocks in Hong Kong get some relief over expectations for an early U.S.- China trade deal as reported by Reuters.

The deal is expected to happen in October, the commerce ministry in Beijing said on Thursday.

Hang Seng Index and Hang Seng China Enterprises Index both gained 0.4% at closing on Thursday. The FTSE China A50 closed with a slight marginal gain of 01%. Whereas, CSI300 fell by 0.8% on close.

3.6% and 2.6% of the daily quota used for Hong kong > Shanghai Connect and Shanghai > Hong Kong respectively.

Donald Trump, The President of The U.S.A. said on Wednesday that the deal with China to end the trade war could take place earlier than expected. Also, the Chinese are already buying Agricultural produce from The U.S. in large quantities.

However, the gains were limited due to doubts regarding the effectiveness of such deals and also investors doubted whether the island-wide protests will cool down a bit earlier or not.

The MSCI’s Asia ex-Japan stock index gained a slight 0.1%.
Japan’s Nikkei index ended the day with a gain of 0.13%.

At 08:22 GMT, The yuan was quoted at 7.1286 per U.S. dollar, 0.05% higher than the previous close of 7.132.

The top gainers were –

China Merchants Bank Co Ltd: 3.77%
Anhui Conch Cement Co Ltd: 3.61%
China Resources Land Ltd: 2.34%.

The biggest decliners were –

PetroChina Co Ltd: 1.98%
People’s Insurance Company Group of China Ltd: 1.56%

Lastly, China’s A-shares were at a premium of 29.93% over Hong Kong-listed H-shares.


Written by

Cheryl Toh

Last updated on

September 27th 2019, 11:10 am

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