August 22, 2018 / 8:30 AM / 3 months ago

Hong Kong shares up for 4th session, following Wall Street

* Hang Seng index ends up 0.6 pct China Enterprises index HSCE rises 1.1 percent

Aug 22 (Reuters) - Hong Kong shares closed higher for the fourth straight session on Wednesday, following a strong lead from Wall Street.

Markets also awaited the latest round of Sino-U.S. trade talks later in the day, despite few market watchers expecting any agreement to be reached from the discussion. ** At close of trade, the Hang Seng index was up 180.41 points or 0.65 percent at 27,927.58 points. The Hang Seng China Enterprises index rose 1.1 percent to 10,850.17 points. **The sub-index of the Hang Seng tracking energy shares rose 2.0 percent, while the IT sector rose 1.9 percent and the financial sector was 0.6 percent higher. ** The top gainer on the Hang Seng was WH Group Ltd, which rose 4.15 percent, while the biggest decliner was China Mengniu Dairy Co Ltd, which was down 2.84 percent. ** China’s main Shanghai Composite index closed down 0.7 percent at 2,714.61 points, while its blue-chip CSI300 index ended 0.56 percent lower. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.19 percent, while Japan’s Nikkei index ended up 0.64 percent. ** The yuan was quoted at 6.8466 per dollar at 0807 GMT, 0.07 percent firmer than the previous close of 6.8513. ** As of the previous trading session, the Hang Seng index was down 7.24 percent this year, while China’s H-share index was down 8.3 percent. As of the previous close, the Hang Seng had declined 2.9 percent this month. ** About 1.68 billion Hang Seng index shares were traded, roughly 99.3 percent of the market’s 30-day moving average of 1.69 billion shares a day. The volume traded in the previous trading session was 1.75 billion. ** At close, China’s A-shares were trading at a premium of 16.07 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 10.64 as of the last full trading day, while the dividend yield was 3.4 percent. ** So far this week, the market capitalisation of the Hang Seng index has risen by 2.20 percent to HK$18.02 trillion. ** The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 0.67 percent on the day at 5,048.7 points. (Reporting by the Shanghai Newsroom; Editing by Sai Sachin Ravikumar)

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