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Hong Kong shares tick higher on tech, consumer boost

· 03/16/2021 04:39
Hong Kong shares tick higher on tech, consumer boost

Hang Seng index ends up 0.67%

China Enterprises index HSCE rises 1.66%

Tech index jumps 3.22%

- Hong Kong shares rose on Tuesday as heavyweight tech and consumer stocks tracked Wall Street's advance on hopes that the U.S. Federal Reserve and other central banks will keep policies accommodative in meetings this week.


** At the close of trade, the Hang Seng index .HSI was up 193.93 points, or 0.67%, at 29,027.69. The Hang Seng China Enterprises index .HSCE rose 1.66% to 11,329.43.

** The sub-index of the Hang Seng tracking energy shares .HSCIE dipped 0.6%, while the IT sector .HSCIIT rose 2.22%, the financial sector .HSNF ended 0.94% lower and the property sector rose 0.11%.

** The top gainer on the Hang Seng was Xiaomi Corp 1810.HK, which gained 8.01%, while the biggest loser was AIA Group Ltd 1299.HK, which fell 2.5%.

** Fed policymakers are expected to forecast that the U.S. economy will grow in 2021 by the fastest rate in decades, but changes in monetary policy are viewed by investors and analysts as unlikely. nL1N2L82OT

** After rising sharply last week, longer-term U.S. Treasury yields tumbled and the yield curve flattened on Monday as the market awaited the Fed's meeting and the latest government debt auctions. nL1N2LD10L

** Shares of China Mobile Ltd 0941.HK rose 1.92% after a report that the company is considering an A-share listing following its removal from the New York Stock Exchange under a Donald Trump-era investment ban. nL1N2LE06O

** China's main Shanghai Composite index .SSEC closed up 0.78% at 3,446.73 points, while the blue-chip CSI300 index .CSI300 ended up 0.87%.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.63%, while Japan's Nikkei index .N225 closed up 0.52%.

** The yuan CNY=CFXS was quoted at 6.5005 per U.S. dollar at 0812 GMT versus the previous close of 6.5006.


(Reporting by Andrew Galbraith in Shanghai; Editing by Devika Syamnath)

((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging: andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))