December 20, 2019 / 8:36 AM / a month ago

Hong Kong stocks post 3rd weekly gain on Sino-U.S. trade deal

* HK->Shanghai Connect daily quota used 6.7%, Shanghai->HK daily quota used 2.6%

* HSI +0.3%, HSCE +0.4%, CSI300 -0.3%

* FTSE China A50 -0.2%

SHANGHAI, Dec 20 (Reuters) - Hong Kong stocks ended higher on Friday, recording their third straight weekly gain on easing trade tensions between Washington and Beijing after they agreed on a phase one trade deal last week.

** The Hang Seng index rose 0.3% to 27,871.35, while the China Enterprises Index gained 0.4% to 11,030.23.

** For the week, HSI was up 0.7%, while HSCE added 1.8%.

** U.S. Treasury Secretary Steven Mnuchin said on Thursday the United States and China would sign their so-called phase one trade pact at the beginning of January, adding that it was completely finished and just undergoing a technical “scrub.”

** China on Thursday unveiled a new list of import tariff exemptions for six chemical and oil products from the United States, days after the world’s two largest economies announced the initial trade deal.

** Market participants paid close attention to Chinese President Xi Jinping’s remarks on Hong Kong amid anti-government protests in the Asian financial hub.

** Xi said on Friday China would never allow foreign forces to interfere with its special regions of Hong Kong and Macau, 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 weaker by 0.03%, while Japan’s Nikkei index closed down 0.2%.

** The yuan was quoted at 7.0108 per U.S. dollar at 08:19 GMT, 0.01% weaker than the previous close of 7.01.

** At close, China’s A-shares were trading at a premium of 26.42% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Aditya Soni)

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