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Hong Kong stocks rise as Tencent rebounds
December 7, 2017 / 8:23 AM / 8 days ago

Hong Kong stocks rise as Tencent rebounds

Dec 7 (Reuters) - Hong Kong’s benchmark index rose slightly on Thursday, aided by a rebound in index heavyweight Tencent Holdings, which jumped 3.3 percent. ** At close of trade, the Hang Seng index was up 78.39 points or 0.28 percent at 28,303.19. The Hang Seng China Enterprises index fell 0.11 percent to 11,150.73. **The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent while the IT sector rose 2.63 percent, the financial sector was 0.12 percent higher and property sector dipped 0.45 percent. ** The top gainer on Hang Seng was Hengan International Group Company Ltd up 3.41 percent, while the biggest loser was Geely Automobile Holdings Ltd which was down 2.79 percent. ** China’s main Shanghai Composite index closed down 0.67 percent at 3,272.0068 points while the blue-chip CSI300 index ended down 1.11 percent at 3,971.1429. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.09 percent while Japan’s Nikkei index closed up 1.45 percent. ** The yuan was quoted at 6.6159 per U.S. dollar at 08:11 GMT, 0.02 percent weaker than the previous close of 6.6145. ** So far this year, the Hang Seng index is up 28.29 percent, while China’s H-share index is up 18.8 percent. The Hang Seng has declined 3.26 percent this month. ** The top gainers among H-shares were Ping An Insurance Group Co of China Ltd up 2.67 percent, followed by Guangzhou Automobile Group Co Ltd gaining 2.39 percent and China Pacific Insurance Group Co Ltd up by 0.95 percent. ** The three biggest H-shares percentage decliners were Dongfeng Motor Group Co Ltd which was down 4.67 percent, China Telecom Corp Ltd which fell 3.1 percent and Anhui Conch Cement Co Ltd down by 2.4 percent. ** About 1.84 billion Hang Seng index shares were traded, roughly 91.7 percent of the market’s 30-day moving average of 2.00 billion shares a day. The volume traded in the previous trading session was 2.69 billion. ** At close, China’s A-shares were trading at a premium of 34.27 percent over the Hong Kong-listed H-shares. ** The price-to-earnings ratio of the Hang Seng index was 12.88 as of the last full trading day while the dividend yield was 3.1 percent. (Reporting by the Shanghai Newsroom; Editing by Kim Coghill)

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