Hong Kong Stocks End Firmer after China Signals Trade Talks

Image by Csaba Nagy from Pixabay

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.

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Last updated on

August 30th 2019, 11:13 am

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