Hong Kong stocks end higher, tracking global gains

[SHANGHAI] Hong Kong stocks closed higher on Tuesday, following a global rally boosted by expectations that the European Central Bank and the Federal Reserve will cut interest rates.

The Hang Seng index rose 0.3 per cent to 28,466.48, while the China Enterprises Index gained 0.4 per cent to 10,809.92. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.16 per cent, while Japan's Nikkei index closed up 0.95 per cent.

The yuan was quoted at 6.879 per US dollar at 08.14 GMT, 0.04 per cent firmer than the previous close of 6.8817.

The top gainers among H-shares were Hengan International Group Company Ltd up 5.6 per cent, followed by PICC Property and Casualty Co Ltd, gaining 3.93 per cent and China Resources Beer Holdings Co Ltd, up by 2.54 per cent.

The three biggest H-shares percentage decliners were Country Garden Holdings Co Ltd, which was down 2.15 per cent, China Vanke Co Ltd, which fell 1.95 per cent and China Pacific Insurance Group Co Ltd, down by 1.82 per cent.

About 979.41 million Hang Seng index shares were traded, roughly 67.9 per cent of the market's 30-day moving average of 1.44 billion shares a day. The volume traded in the previous trading session was 1.14 billion.

At close, China's A-shares were trading at a premium of 27.62 per cent over Hong Kong-listed H-shares.

REUTERS