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Hong Kong: Stocks edge higher on materials, industrials
[HONG KONG] Hong Kong stocks closed slightly higher on Wednesday and snapped five sessions of losses, bolstered by gains in materials and industrial stocks, even as trade tensions and worries over slowing growth lingered.
The Hang Seng index rose 0.1 per cent to 25,997.03, while the China Enterprises Index lost 0.2 per cent to 9,993.34.
China Molybdenum, the world's second-largest cobalt producer, soared 19.6 per cent following a report that Glencore Plc will halt production at the Mutanda mine, the world's largest cobalt mine.
About 1.72 billion Hang Seng index shares were traded, roughly 127.4 per cent of the market's 30-day moving average of 1.35 billion shares a day. The volume traded in the previous trading session was 2.84 billion.
The benchmark Shanghai Composite Index closed 0.32 per cent, or 8.88 points, lower at 2,768.68. The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.43 per cent, or 6.35 points, to 1,483.95.