SPY391.77+4.27 1.10%
DIA319.53+4.14 1.31%
IXIC13,597.97+132.77 0.99%

Hong Kong stocks see best weekly show in 3 months on mainland demand

· 02/05/2021 04:01
Hong Kong stocks see best weekly show in 3 months on mainland demand

HK->Shanghai Connect daily quota used 7.6%

Shanghai->HK daily quota used 8.6%

HSI +0.6%, HSCE +0.0%, CSI300 +0.2%

FTSE China A50 +1.4%

- Hong Kong stocks closed higher on Friday, helping the indexes post their best weekly performance in three months, following persisting buying activity from mainland investors.

** The Hang Seng index .HSI ended 0.6% higher at 29,288.68, while the China Enterprises index .HSCE was unchanged at 11,561.32.

** For the week, HSI added 3.6%, its biggest gain since the week ended Nov. 6, 2020, while the HSCE added 3.2%.

** On Friday, mainland investors purchased net of HK$9.4 billion ($1.21 billion) worth of Hong Kong stocks via the Stock Connect linking mainland and Hong Kong, Refinitiv data showed.

** That came after their buying hit a monthly record of more than HK$300 billion in January, as asset managers looked to the city for bargains.

** Kuaishou Technology 1024.HK surged three-fold in its Hong Kong debut to become the fifth-largest listed company in the city, driven by massive demand from mom-and-pop investors for the Chinese online video service operator. nL1N2KB04V

** Worries over Sino-U.S. tensions, however, kept the gains in check.

** The United States is deliberately "creating tension" and disrupting peace and stability, China's military said, after a U.S. warship sailed through the sensitive Taiwan Strait. nL1N2KA3HB

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.52%, while Japan's Nikkei index .N225 closed up 1.54%.

** The yuan CNY=CFXS was quoted at 6.4773 per U.S. dollar at 0834 GMT, down 0.08%.

** China's A-shares closed at a premium of 36.02% over Hong Kong-listed H-shares.

($1 = 7.7525 Hong Kong dollars)


(Reporting by the Shanghai Newsroom; editing by Uttaresh.V)

((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))