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Hong Kong: Shares hit 3-month high as trade data raises China GDP hopes
[HONG KONG] Hong Kong shares climbed to three-month closing highs on Thursday, tracking global markets, as China's upbeat March trade data lifted hopes for the country's first-quarter GDP figures to be released on Friday.
The Hang Seng index added 0.9 per cent, to 21,337.81 points, while the Hong Kong China Enterprises Index gained 0.5 per cent, to 9,237.90.
"We believe the recent trade, car sales and electricity consumption data (in China) point to a potential upside surprise to March data," Morgan Stanley wrote. "In the near term, we continue to expect a cyclical improvement as past stimulus measures are still filtering through to the economy," it said.
Most sectors rose on Thursday, but resources and energy shares fell as investors took profit following Wednesday's jump.