Hong Kong: Stocks rise on energy boost, though Sino-West tensions weigh

[SHANGHAI] Hong Kong stocks eked out gains on Thursday, helped by energy firms, though the upmove was capped by tensions between China and the West.

At the close of trade, the Hang Seng index was up 219.48 points or 0.77 per cent at 28,637.46. The Hang Seng China Enterprises index rose 0.32 per cent to 10,756.37.

The sub-index of the Hang Seng tracking energy shares rose 2.4 per cent, while the IT sector climbed 0.26 per cent, the financial sector ended 0.88 per cent higher which the property sector closed 0.35 per cent firmer.

The top gainer on the Hang Seng was Budweiser Brewing Company APAC, which gained 4.94 per cent, while the biggest loser was Haidilao International Holding, which fell 7.4 per cent.

However, tensions between China and other western countries weighed. The European Union took steps on Wednesday to guard against economic competition from China that it deems unfair, a sign of growing distrust after Western sanctions over rights abuses and Chinese retaliation.

China "indefinitely" suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for their strained relations.

China's main Shanghai Composite index closed down 0.16 per cent at 3,441.28 points, while the blue-chip CSI300 index ended down 1.22 per cent.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.26 per cent, while Japan's Nikkei index closed up 1.8 per cent.

The yuan was quoted at 6.476 per US dollar at 8.25am GMT, 0.02 per cent weaker than the previous close of 6.4745.

At close, China's A-shares were trading at a premium of 34.66 per cent over Hong Kong-listed H-shares.

REUTERS