December 23, 2019 / 8:46 AM / a month ago

Hong Kong stocks close near 5-month high on trade deal optimism

* HK->Shanghai Connect daily quota used 2.9%, Shanghai->HK daily quota used 2.1%

* HSI +0.1%, HSCE +0.2%, CSI300 -1.3%

* FTSE China A50 -1.0%

Dec 23 (Reuters) - Hong Kong stocks ended near a five-month peak in thin trade on Monday, boosted by optimism that the United States and China would soon sign their phase one trade pact.

** The Hang Seng index rose 0.1%, to 27,906.41 in holiday-thinned trade. The China Enterprises Index gained 0.2%, to 11,052.68.

** U.S. President Donald Trump gave markets more reasons to cheer on Saturday when he said the United States and China would “very shortly” sign their so-called Phase 1 trade pact.

** China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States.

** Hong Kong is gearing up for demonstrations over Christmas week with protesters planning events in districts across the city, including in prime shopping malls, the latest in more than six months of unrest.

** Chinese president Xi Jinping said on Friday China would never allow foreign forces to interfere in its special regions, including Hong Kong, as he swore in a new pro-Beijing government for the gambling hub of Macau.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.03%, while Japan’s Nikkei index closed up 0.02%.

** The yuan was quoted at 7.0122 per U.S. dollar at 08:17 GMT, 0.08% weaker than the previous close of 7.0065.

** About 1.22 billion Hang Seng index shares were traded, roughly 79.6% of the market’s 30-day moving average of 1.53 billion shares a day. The volume traded in the previous trading session was 1.68 billion.

** At close, China’s A-shares were trading at a premium of 24.87% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Aditya Soni)

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