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HK stocks start month on strong footing on materials, consumer strength

11/02/2020 | 04:06am EST

* HK->Shanghai Connect daily quota used 2.9%, Shanghai->HK daily quota used 12.5%

* HSI +1.5%, HSCE +1.8%, CSI300 +0.5%

* FTSE China A50 +0.3%,

Nov 2 (Reuters) - Hong Kong stocks kicked off November with solid gains, helped by strength in materials and consumer firms, though traders braced for turbulence during the U.S. Presidential election week.

** At the close of trade on Monday, the Hang Seng index was up 352.59 points or 1.46% at 24,460.01. The Hang Seng China Enterprises index ended 1.81% firmer at 9,936.56.

** Leading the gains, the Hang Seng materials index and the Hang Seng consumer discretionary index closed up 3.8% and 3.3%, respectively.

** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, which gained 13.57%, while the biggest loser was WH Group Ltd after closing 2.3% lower.

** Sentiment got a lift after a survey showed that factory activity in China, the world's second-largest economy, accelerated at the fastest pace in nearly a decade in October as domestic demand surged.

** Though caution remained ahead of the upcoming U.S. election.

** U.S. President Donald Trump will hunt for support in four battleground states on Monday while Democratic rival Joe Biden focuses on Pennsylvania and Ohio during the final day of campaigning in their long, bitter race for the White House.

** China's main Shanghai Composite index closed up 0.02% at 3,225.12 points, while the blue-chip CSI300 index ended up 0.54%.

** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.5%, while Japan's Nikkei index closed up 1.39%.

** The yuan was quoted at 6.7001 per U.S. dollar at 0829 GMT, 0.1% weaker than the previous close of 6.6932.

** At close, China's A-shares were trading at a premium of 44.11% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GEELY AUTOMOBILE HOLDINGS LIMITED 2.56% 32 End-of-day quote.20.75%
HANG SENG 0.79% 28847.93 Real-time Quote.5.10%
MSCI AC ASIA EX JAPAN (STRD, UHD) -0.10% 890.509 Real-time Quote.5.75%
NIKKEI 225 -0.97% 28242.21 Real-time Quote.3.92%
S&P/CITIC 300 INDEX 1.09% 4868.27 Delayed Quote.4.84%
S&P/CITIC 50 INDEX 0.40% 4891.01 Delayed Quote.4.45%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.20% 6.4932 Delayed Quote.-0.35%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.16% 6.4902 Delayed Quote.-0.69%
WH GROUP LIMITED 0.76% 6.6 End-of-day quote.1.54%
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