April 19, 2018 / 8:31 AM / 3 months ago

Energy shares lead HK stocks to end higher on firm oil prices

* HK->Shanghai Connect daily quota used 27 pct, Shanghai->HK daily quota used 4.1 pct

* HSI 1.4 pct, HSCE 2.1 pct, CSI300 1.2 pct

* Energy shares surge on higher oil prices

*

April 19 (Reuters) - Hong Kong stocks ended higher on Thursday, led by energy shares, after oil prices hit their highest since late 2014 as U.S. crude inventories declined and as top exporter Saudi Arabia pushes for higher rates by continuing to withhold supplies.

** The Hang Seng index ended 1.4 percent higher at 30,708.44 points, while the China Enterprises Index closed up 2.1 percent at 12,239.84 points.

** Energy shares jumped over 4 percent in Hong Kong after a Reuters report that OPEC’s new price hawk Saudi Arabia would be happy for crude to rise to $80 or even $100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement’s original target is within sight. ** The sub-index of the Hang Seng tracking IT sector rose 1.34 percent, while the financial sector was 1.31 percent higher and property sector rose 0.86 percent. ** The top gainer on Hang Seng was WH Group Ltd up 6.51 percent, while the biggest loser was AIA Group Ltd , which slipped 0.87 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.91 percent while Japan’s Nikkei index closed up 0.15 percent. ** The yuan was quoted at 6.2761 per U.S. dollar at 0812 GMT, 0.03 percent weaker than the previous close of 6.2745. ** As of previous session, the Hang Seng index was up 1.22 percent this year, while China’s H-share index was up 2.4 percent. As of previous close, the Hang Seng has risen 0.63 percent this month. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd up 6.05 percent, followed by PetroChina Co Ltd gaining 5.69 percent and China Shenhua Energy Co Ltd up by 4.45 percent. ** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which was down 2.94 percent, Air China Ltd, which fell 1.4 percent and China Gas Holdings Ltd that dropped 1.1 percent. ** About 2.29 billion Hang Seng index shares were traded, roughly 124.7 percent of the market’s 30-day moving average of 1.84 billion shares a day. The volume traded in the previous trading session was 2.06 billion. ** At close, China’s A-shares were trading at a premium of 21.58 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.41 as of the last full trading day, while the dividend yield was 3.2 percent. (Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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