June 20, 2018 / 8:41 AM / 3 months ago

HK shares end higher as ZTE surge calms trade war panic

* Hang Seng index closed up 0.8 pct; HSCE rises 0.1 pct

* ZTE ended 20 pct higher

* HSI financial sector sub-index 0.6 percent higher; property sector gains 0.6 percent

June 20 (Reuters) - Hong Kong stocks tracked Asian shares to end higher on Wednesday, rebounding after the previous session’s rout, as the surge in ZTE Corp helped sooth immediate panic over a Sino-U.S. trade war.

** The Hang Seng index ended 0.8 percent higher at 29,696.17, while the China Enterprises Index closed 0.1 percent higher at 11,505.74 points.

** ZTE Corp , the Chinese technology firm caught in the crossfire of Sino-U.S. trade friction, closed 20 percent higher in Hong Kong on Wednesday as the impact of a U.S. Senate bill that threatens to restore penalties on the company became clearer.

** The sub-index of the Hang Seng tracking energy shares rose 1.6 percent, while the IT sector gained 0.92 percent, the financial sector ended 0.56 percent higher and property sector closed up 0.62 percent. ** The top gainer on Hang Seng was Want Want China Holdings Ltd up 4.08 percent, while the biggest loser was Country Garden Services Holdings Company Ltd, which closed down 9.80 percent. ** China’s main Shanghai Composite index closed up 0.31 percent at 2,907.8221 points, while its blue-chip CSI300 index ended 0.41 percent higher. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.73 percent, while Japan’s Nikkei index closed up 1.24 percent. ** The yuan was quoted at 6.472 per U.S. dollar at 0814 GMT, 0.17 percent firmer than the previous close of 6.483. ** As of previous trading session, the Hang Seng index was down 1.51 percent this year, while China’s H-share index lost 1.8 percent. As of previous close, the Hang Seng declined 3.28 percent this month. ** The top gainers among H-shares were Huaneng Power International Inc, which ended 2.82 percent higher, followed by CNOOC Ltd, which closed up 2.71 percent and Guangdong Investment Ltd, which ended 2.58 percent firmer. ** The three biggest H-shares percentage decliners were Anhui Conch Cement Co Ltd, which closed down 3.17 percent, Byd Co Ltd, which ended 2.6 percent lower and Haitong Securities Co Ltd, which closed 1.3 percent down. ** About 2.30 billion Hang Seng index shares were traded, roughly 125.4 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 3.67 billion shares. ** The price-to-earnings ratio of the Hang Seng index was 11.58 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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