March 18, 2019 / 8:28 AM / 2 months ago

Hong Kong stocks end at 9-month high as Fed seen accommodative

* Hang Seng index ends up 1.37 pct

* China Enterprises index HSCE rises 1.45 pct

* HSI financial sector sub-index 0.9 pct higher; property sector up 2.5 pct

SHANGHAI, March 18 (Reuters) - Hong Kong stocks tracked the mainland Chinese markets higher on Monday and closed at a nine-month peak, buoyed by expectations of the U.S. Federal Reserve taking a dovish stance at its policy meeting this week and Beijing rolling out more policy measures to boost growth.

** The Hang Seng index rose 1.4 percent, to 29,409.01, while the China Enterprises Index gained 1.5 percent, to 11,674.83 points.

** There is much talk Fed policymakers will lower their interest rate forecasts, or “dot plots”, to show little or no further tightening this year.

** The Chinese government has additional monetary policy measures that it can take to support economic growth this year, and will even cut “its own flesh” to help finance large-scale tax cuts, Premier Li Keqiang said on Friday.

** Li’s comments suggest Beijing is ready to roll out more stimulus measures to ensure the economy grows within a targeted range of 6.0 to 6.5 percent.

** Developers outperformed with a 2.7 percent rise , led by Agile Group Holdings which climbed 10.7 percent.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.95 percent, while Japan’s Nikkei index closed up 0.62 percent.

** The yuan was quoted at 6.7133 per U.S. dollar at 08:15 GMT, 0.01 percent firmer than the previous close of 6.714.

** The top gainers among H-shares were China Resources Land Ltd up 9.13 percent, followed by China Vanke Co Ltd , gaining 6.95 percent, and Shenzhou International Group Holdings Ltd, up by 5.06 percent.

** The three biggest H-shares percentage decliners were Anhui Conch Cement Co Ltd, which was down 4.54 percent, China National Building Material Co Ltd, which fell 4.1 percent, and CNOOC Ltd, down by 0.8 percent.

** About 1.95 billion Hang Seng index shares were traded, roughly 111.6 percent of the market’s 30-day moving average of 1.74 billion shares a day. The volume traded in the previous trading session was 2.04 billion.

** At close, China’s A-shares were trading at a premium of 23.39 percent over the Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Subhranshu Sahu)

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