SHANGHAI: Hong Kong stocks ended higher on Thursday, helped by services and energy companies, though gains were capped amid renewed concerns over China-US trade tensions.
At close of trade, the Hang Seng index rose 0.3 percent to 30,760.41 points, while the China Enterprises Index gained 0.5 percent, to 12,152.62 points.
US President Donald Trump signalled a new direction in US-China trade talks and said any deal would need “a different structure,” fuelling uncertainty over current negotiations.
Adding to investor worries, the Trump administration has launched a national security investigation into car and truck imports that could lead to new US tariffs similar to those imposed on imported steel and aluminium in March.
Negative sentiment was, however, tempered by minutes of a US Federal Reserve meeting that suggested it would not raise the tempo at which it increases interest rates.
Sector performance was mixed on Thursday, with gains led by services and energy firms, as investors hunted for bargains after steep falls on Wednesday.
The top gainer on the Hang Seng was China Petroleum and Chemical Corp up 2.86 percent, while the biggest loser was WH Group Ltd, which was down 2.99 percent.
Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.3 percent, while Japan’s Nikkei index closed down 1.11 percent.
The yuan was quoted at 6.3845 per US dollar at 08:09 GMT, 0.06 percent firmer than the previous close of 6.3883.
As of the previous trading session, the Hang Seng index was up 2.5 percent this year, while China’s H-share index was up 3.3 percent. As of the previous close, the Hang Seng has declined 0.46 percent this month.
The top gainers among H-shares were China Petroleum and Chemical Corp up 2.86 percent, followed by Hengan International Group Company Ltd gaining 2.41 percent and China Shenhua Energy Co Ltd up 2.23 percent.
The three biggest H-shares percentage decliners were Guangdong Investment Ltd which was down 2.53 percent, Byd Co Ltd which fell 2.0 percent and Dongfeng Motor Group Co Ltd down by 1.9 percent.
At close, China’s A-shares were trading at a premium of 20.03 percent over the Hong Kong-listed H-shares.
Source: Brecorder
