Hong Kong stocks have reversed course to end higher on Thursday on fresh comments from China, that Beijing and Washington were in discussions and would try to resolve the year-long trade dispute between both economies, according to Reuters.
The Hang Seng index ended up 0.3% at 25,703.50, while the China Enterprises Index closed 0.1% higher at 9,992.64.
Following a lacklustre start to the session, investor sentiment was lifted after China’s commerce ministry said they were in discussions with the United States.
Top Gainers/ Decliners
Top gainers amongst H-shares were:
- China Cinda Asset Management Co Ltd, which ended up 6.67%,
- China Huarong Asset Management Co Ltd, which closed 5.41% firmer
- CSPC Pharmaceutical Group Ltd, which ended 4.52% higher.
The three biggest H-shares percentage decliners are:
- New China Life Insurance Co Ltd, which ended down 6.11%,
- Dongfeng Motor Group Co Ltd, which closed 2.59% lower
- Huatai Securities Co Ltd, which ended down by 2.09%.
Meanwhile, about 1.78 billion Hang Seng index shares were traded, roughly 106.1% of the market’s 30-day moving average of 1.68 billion shares a day. The volume traded in the previous trading session was 1.46 billion.