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Hong Kong stocks edge higher as energy shares gain on vaccine boost

11/17/2020 | 03:41am EST

* HK->Shanghai Connect daily quota used 4.8%, Shanghai->HK daily quota used 0.4%

* HSI +0.1%, HSCE -0.3%, CSI300 -0.2%

* FTSE China A50 +0.1%

SHANGHAI, Nov 17 (Reuters) - Hong Kong stocks ended marginally higher on Tuesday, with gains by shares of energy firms on positive developments around a second possible coronavirus vaccine offseting losses by tech players due to fears of an escalation in Sino-U.S. tensions.

** At the close of trade, the Hang Seng index was up 33.42 points or 0.13% at 26,415.09. The Hang Seng China Enterprises index fell 0.27% to 10,550.2.

** The top gainer on the Hang Seng was CK Hutchison Holdings Ltd, which gained 5.17%, while the biggest loser was Xiaomi Corp, which fell 4.37%.

** Energy shares led the gains, with the Hang Seng energy index closing up 2%.

** Oil prices edged up on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered after Moderna Inc said on Monday its experimental vaccine is 94.5% effective in preventing COVID-19 based on interim data from a late-stage trial, becoming the second U.S. drugmaker to report results exceeding expectations.

** The Hang Seng tech index dropped 1.8%.

** There were concerns that U.S. President Donald Trump could take further unfriendly measures against China, which could weigh on the market for the short term, KGI Securities said in a report.

** A top Chinese securities regulator said he hopes Sino-U.S. relations will be much improved under a Biden administration.

** Under the Trump administration, U.S.-China ties are at their worst in decades over disputes ranging from technology and trade to Hong Kong and the coronavirus.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.27%, while Japan's Nikkei index closed up 0.42%.

** The yuan was quoted at 6.5646 per U.S. dollar at 0809 GMT, 0.27% firmer than the previous close of 6.5827.

** At close, China's A-shares were trading at a premium of 40.26% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ANTA SPORTS PRODUCTS LIMITED -0.88% 135.7 End-of-day quote.10.41%
CK HUTCHISON HOLDINGS LIMITED -2.83% 54.9 End-of-day quote.1.48%
HANG SENG -0.30% 29344.1 Real-time Quote.8.09%
LONDON BRENT OIL 0.25% 56.22 Delayed Quote.7.08%
MEITUAN DIANPING 5.16% 399.8 End-of-day quote.35.71%
MODERNA, INC. 3.35% 151.93 Delayed Quote.45.35%
NIKKEI 225 0.31% 28635.21 Real-time Quote.5.02%
PETROCHINA COMPANY LIMITED -0.72% 4.15 End-of-day quote.0.00%
SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED 2.41% 221.4 End-of-day quote.30.47%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.10% 6.4783 Delayed Quote.-0.15%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.07% 6.4683 Delayed Quote.-0.71%
WTI 0.20% 52.864 Delayed Quote.8.49%
XIAOMI CORPORATION 2.52% 30.55 End-of-day quote.-7.98%
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