July 20, 2018 / 8:38 AM / a month ago

Hong Kong shares close higher, but lower for the week

* HK->Shanghai Connect daily quota used 1.2 pct, Shanghai->HK daily quota used 5.3 pct

* HSI +0.8 pct, HSCE +1.5 pct, CSI300 +1.9 pct

* Mainland Chinese stocks sharply rebound -1.2

July 20 (Reuters) - Hong Kong stocks ended higher on Friday, as a sharp rebound in mainland Chinese stocks lifted sentiment.

** The Hang Seng index ended 0.8 percent higher at 28,224.48, while the China Enterprises Index closed up 1.5 percent at 10,682.64 points. ** Hang Seng fell to nine-month lows in early trading, but reversed losses as China stocks staged a sharp rebound. For the week, Hang Seng still lost over 1 percent.

** The sub-index of the Hang Seng tracking energy shares rose 1 percent, while the IT sector climbed 0.17 percent, the financial sector gained 1.06 percent and property sector rose 0.76 percent. ** The top gainer on Hang Seng was Country Garden Holdings Co Ltd, which ended 3.08 percent higher, while the biggest loser was Sunny Optical Technology Group Co Ltd , which closed 2.86 percent down. ** China’s main Shanghai Composite index closed up 2.04 percent at 2,772.5454 points, while its blue-chip CSI300 index ended 1.89 percent firmer. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.66 percent while Japan’s Nikkei index closed down 0.29 percent . ** The yuan was quoted at 6.7795 per U.S. dollar at 0820 GMT, percent firmer than the previous close of 6.7796. ** As of the previous trading session, the Hang Seng index slipped 6.38 percent this year, while China’s H-share index lost 10.1 percent. As of the previous close, the Hang Seng declined 3.26 percent this month. ** The top gainers among H-shares were New China Life Insurance Co Ltd, which closed up 5.01 percent, followed by China Merchants Bank Co Ltd, which closed 3.62 percent firmer and Air China Ltd, which ended 3.45 percent higher. ** The three biggest H-shares percentage decliners were China Huarong Asset Management Co Ltd, which closed down 2.05 percent, ZhongAn Online P & C Insurance Co Ltd, which ended 1.2 percent lower and CRRC Corp Ltd, which closed 1.2 percent lower. ** About 2.52 billion Hang Seng index shares were traded, roughly 128.8 percent of the market’s 30-day moving average of 1.95 billion shares a day. The volume traded in the previous trading session was 1.54 billion. ** At close, China’s A-shares were trading at a premium of 20.13 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 11 as of the last full trading day, while the dividend yield was 3.3 percent. (Reporting by the Shanghai Newsroom)

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