Hong Kong shares close higher with energy firms leading gains on higher oil prices

Reuters2021-02-09

BEIJING, Feb 9 (Reuters) - Hong Kong shares ended higher on Tuesday with energy stocks leading gains, following rising oil prices as investors were reassured by a quicker economic recovery.

At the close of trade, the Hang Seng index was up 156.72 points, or 0.53%, at 29,476.19. The Hang Seng China Enterprises index rose 0.37% to 11,602.76.

The sub-index of the Hang Seng tracking energy shares rose 2.7%, while the IT sector rose 0.82%. The financial sector ended 0.48% higher and the property sector dipped 0.39%.

The top gainer on the Hang Seng was Budweiser Brewing Company APAC Ltd, which rose 4.72%, while the biggest loser was Techtronic Industries Co Ltd, which fell 2.85%.

Oil prices continued to rise on Tuesday to 13-month highs.

China reported 14 new COVID-19 cases on the mainland on Feb. 8, official data showed on Tuesday, unchanged from a day earlier and the second day of no locally transmitted infections.

Auto sales in the country surged in January with a 30% jump from the same month a year earlier, the tenth month of gains, as China continued to lead the global automobile industry's recovery from the COVID-19 pandemic.

Shares of Tencent-backed Kuaishou Technology rose as much as 15.7% to HK$350.6, after indexes compiler said to add the Chinese online video company to Hang Seng family of indexes.

China's main Shanghai Composite index closed 2.01% higher at 3,603.49 points, while the blue-chip CSI300 index ended 2.19% higher.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.42%, while Japan's Nikkei index closed up 0.4%.

The yuan was quoted at 6.4491 per U.S. dollar at 08:11 GMT, 0% weaker than the previous close of 6.4488.

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