January 10, 2020 / 9:07 AM / 18 days ago

Hong Kong shares end higher on trade deal hopes, up for 6th week

* Hang Seng up 0.3%, 6th week of gains

* Trump says China trade deal may be signed shortly after Jan.15

* China’s Vice Premier Liu He to sign the deal - commerce ministry

HONG KONG, Jan 10 (Reuters) - Hong Kong stocks closed higher for the sixth straight week on Friday as investors remained upbeat in the run up to the signing of the Phase 1 trade deal between China and the United States.

** At the close of trade, the Hang Seng index was up 0.3% at 28,638.20, near its highest level since Jan. 3 hit earlier in the session. The index ticked up 0.7% from the previous week. ** The Hang Seng China Enterprises index fell 0.1% on Friday, and was up by pretty much the same margin week-on-week. ** The sub-index of the Hang Seng tracking energy shares dipped 1.2%, IT sector rose 1.7%, financial sector rose 0.2% and property shares lost 0.1%. ** The top gainer on the Hang Seng was Tencent Holdings Ltd , which gained 2.2%, while the biggest loser was China Resources Land Ltd, which fell 3.4%. ** U.S. President Donald Trump, who announced last month that the Phase 1 trade deal with China would be signed on Jan. 15, said on Thursday the agreement could be signed “shortly thereafter.” ** China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign the deal in Washington next week, the commerce ministry said on Thursday. ** Trump said on Thursday that Washington will start negotiating the Phase 2 U.S.-China trade agreement soon but that he might wait to complete any deal until after the U.S. presidential election in November. ** Some of the weekly gains were made after signs of modest improvement in the Chinese economy emerged and as Beijing rolled support measures, encouraging investors. ** About 1.45 billion Hang Seng index shares were traded. The volume traded in the previous trading session was 1.69 billion. ** At close, China’s A-shares were trading at a premium of 26.91% over Hong Kong-listed H-shares. (Reporting by Noah Sin; Editing by Shailesh Kuber)

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