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Hong Kong stocks rise on hopes of pandemic peak

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04/09/2020 | 04:33am EDT
FILE PHOTO The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong

Hong Kong stocks finished higher on Thursday, in line with broad gains in other Asian markets on hopes the new coronavirus pandemic may be approaching a peak.

** The Hang Seng closed up 329.96 points or 1.38% at 24,300.33. The Hang Seng China Enterprises index rose 1.33% to 9,811.12.

** The sub-index of the Hang Seng tracking energy shares rose 1.8%, while the IT sector rose 1.14%, the financial sector ended 0.8% higher and the property sector rose 1.6%.

** MSCI's Asia ex-Japan stock index <.MIAPJ0000PUS> rose 1.52% while Japan's Nikkei index <.N225> slipped 0.04%.

** Helping broader sentiment was New York Governor Andrew Cuomo's statement that the state's efforts at social distancing were working to get the virus under control in one of the biggest hot spots in the United States.

** U.S. President Donald Trump said he would like to reopen the U.S. economy with a "big bang" but that the death toll from the coronavirus first needs to be heading down.

** Also providing support were stimulus measures as Hong Kong on Wednesday announced measures worth HK$137.5 billion ($17.7 billion) to help businesses and people hurt by the coronavirus outbreak as the city joins global efforts to cushion the impact of the pandemic. [nL4N2BW2W9}

** The impact of the novel coronavirus on Hong Kong's tourism sector is unprecedented and the city can hope to start seeing things returning to normal by July, in part by trying to develop new markets, the head of the tourism board told Reuters.

** The yuan <CNY=CFXS> was quoted at 7.0577 per U.S. dollar at 0820 GMT, 0.1% firmer than the previous close of 7.0651.

** At the close, China's A-shares were trading at a premium of 25.78% over Hong Kong-listed H-shares.

(Reporting by the Shanghai Newsroom; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
AAC TECHNOLOGIES HOLDINGS INC. 4.31% 59.3 End-of-day quote.-12.79%
ANTA SPORTS PRODUCTS LIMITED 4.74% 78.4 End-of-day quote.12.40%
CHINA RESOURCES BEER (HOLDINGS) COMPANY LIMITED 0.54% 46.25 End-of-day quote.7.31%
CHINA SHENHUA ENERGY COMPANY LIMITED 0.00% 13.9 End-of-day quote.-14.62%
CHINA TOWER CORPORATION LIMITED 2.58% 1.59 End-of-day quote.-7.56%
EURO / US DOLLAR (EUR/USD) 0.00% 1.13417 Delayed Quote.0.56%
HANG SENG 0.41% 26249.37 Real-time Quote.-7.26%
HOPE, INC. -1.34% 3695 End-of-day quote.14.75%
JASON CO., LTD. -4.08% 729 End-of-day quote.100.27%
LONGFOR GROUP HOLDINGS LIMITED -0.77% 38.6 End-of-day quote.5.75%
NIKKEI 225 0.40% 22529.29 Real-time Quote.-4.40%
RISE, INC. -2.94% 33 End-of-day quote.10.00%
SANDS CHINA LTD. -0.96% 30.8 End-of-day quote.-26.05%
SHANGHAI STOCK EXCHANGE B SHARES INDEX 1.64% 244.9059 Real-time Quote.-6.18%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED -0.68% 95.3 End-of-day quote.-16.33%
THE GLOBAL LTD. 1.83% 222 End-of-day quote.-52.87%
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