November 21, 2017 / 8:30 AM / a month ago

Hong Kong stocks have their best day in seven weeks

Nov 21 (Reuters) - Hong Kong’s main Hang Seng index had its best day in seven weeks on Tuesday, as did the China H-shares index. ** Index heavyweight Tencent Holdings jumped 2.4 percent to another record, boosting market sentiment. ** At close of trade, the Hang Seng index was up 557.76 points or 1.91 percent at 29,818.07. The Hang Seng China Enterprises index rose 2.91 percent to 11,874.37. **The sub-index of the Hang Seng tracking energy shares rose 0.7 percent while the IT sector rose 2.07 percent, the financial sector was 2.99 percent higher and the property sector rose 0.22 percent. ** The top gainer on the Hang Seng was Ping An Insurance Group Co of China Ltd, up 8.84 percent, while the biggest loser was Want Want China Holdings Ltd which was down 5.65 percent. ** China’s main Shanghai Composite index closed up 0.55 percent at 3,411.086 points while its blue-chip CSI300 index ended up 1.79 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.96 percent while Japan’s Nikkei index was up 0.70 percent. ** So far this year, the Hang Seng index is up 33 percent, while China’s H-share index is up 22.8 percent. The Hang Seng has risen 3.59 percent this month. ** The top gainers among H-shares were Ping An Insurance Group Co of China Ltd up 8.84 percent, followed by China Vanke Co Ltd gaining 7.92 percent and China Pacific Insurance Group Co Ltd up by 7.66 percent. ** The three biggest H-shares percentage decliners were Sinopharm Group Co Ltd which has fallen 1.88 percent, Huaneng Power International Inc which has lost 1.1 percent and China Railway Construction Corp Ltd down by 0.5 percent. ** About 2.54 billion Hang Seng index shares were traded, roughly 137.6 percent of the market’s 30-day moving average of 1.85 billion shares a day. ** 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 1.94 percent on the day at 4,960.74 points. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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