July 25, 2019 / 8:31 AM / 4 months ago

Hong Kong stocks end higher as tech lends support

* HK->Shanghai Connect daily quota used 3.8%

* Shanghai->HK daily quota used 2.4%

* HSI +0.3%, HSCE +0.7%, CSI300 +0.8%

* FTSE China A50 +1.0%

SHANGHAI, July 25 (Reuters) - Hong Knog stocks ended higher, led by information technology firms tracking a tech rally on the Wall Street, even as investors cheered some headway in Sino-U.S. trade negotiations.

** The Hang Seng index rose 0.3% to 28,594.30, while the China Enterprises Index gained 0.7% to 10,930.36.

** Top U.S. and Chinese negotiators will meet face-to-face next week for the first time since Presidents Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war.

** The governments of the world’s largest economies have levied billions of dollars of tariffs on each other’s imports, disrupting global supply chains and shaking financial markets in their dispute over how China does business with the rest of the world.

** Sector performance was mixed. Leading the gains, the Hang Seng IT index climbed 1.6%, with gaming giant Tencent ending up 1.9% at an over two-month high.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.28%, while Japan’s Nikkei index closed up 0.22%.

** The yuan was quoted at 6.8751 per U.S. dollar at 08:18 GMT, 0.03% weaker than the previous close of 6.873.

** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 6.15%, followed by China Merchants Bank Co Ltd, gaining 3.67% and China Pacific Insurance Group Co Ltd, up by 2.29%.

** The three biggest H-shares percentage decliners were China Resources Land Ltd, which was down 1.00%, Shenzhou International Group Holdings Ltd, which fell 0.80% and China Mobile Ltd, down by 0.73%.

** About 1.00 billion Hang Seng index shares were traded, roughly 72.5% of the market’s 30-day moving average of 1.39 billion. The volume traded in the previous trading session was 1.11 billion.

** At close, China’s A-shares were trading at a premium of 28.13% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; editing by Gopakumar Warrier)

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