Hong Kong stocks up for 9th day, close at 10-year high
Reuters|
Jan 05, 2018, 03.20 PM IST
The price-to-earnings ratio of the Hang Seng index was 14.02 as of the last full trading day while the dividend yield was 2.8 per cent.
Hong Kong stocks rose for a ninth straight session on Friday, aided by strong gains by real estate firms, and the benchmark Hang Seng Index closed at a 10-year high.
Chinese appetite for Hong Kong equities, ample cash supply and optimism over share reforms could propel the city's benchmark stock index up as much as 15 per cent this year, after an already bullish run in 2017, fund managers and analysts say.
At close of trade, the Hang Seng index was up 78.16 points or 0.25 per cent at 30,814.64. The Hang Seng China Enterprises index rose 0.07 per cent to 12,211.63.
For the week, HSI was up 3.0 per cent, its fourth straight such gain and its best week since the one ended on Oct. 6.
The sub-index of the Hang Seng tracking energy shares rose 0.8 per cent while the IT sector rose 0.26 per cent, the financial sector was 0.2 per cent lower and property sector rose 2.32 per cent.
The top gainer on Hang Seng was Sino Land Co Ltd up 4.37 per cent, while the biggest loser was Hengan International Group Company Ltd which was down 2.98 per cent.
China's main Shanghai Composite index closed up 0.2 per cent at 3,392.3555 points while its blue-chip CSI300 index ended up 0.25 per cent.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.52 per cent while Japan's Nikkei index closed up 0.89 per cent.
The yuan was quoted at 6.4847 per US dollar at 08:11 GMT, 0.14 per cent firmer than the previous close of 6.494.
So far this year, the Hang Seng index is up 2.73 per cent, while China's H-share index is up 4.2 per cent. As of the previous close, the Hang Seng has risen 2.73 per cent this month.
The top gainers among H-shares were China Vanke Co Ltd up 6.38 per cent, followed by Postal Savings Bank of China Co Ltd gaining 3.1 per cent and China Shenhua Energy Co Ltd up by 2.38 per cent.
The three biggest H-shares per centage decliners were New China Life Insurance Co Ltd which was down 3.74 per cent, China Pacific Insurance Group Co Ltd which fell 3.1 per cent and Ping An Insurance Group Co of China Ltd down by 2.0 per cent.
About 2.33 billion Hang Seng index shares were traded, roughly 135.5 per cent of the market's 30-day moving average of 1.72 billion shares a day. The volume traded in the previous trading session was 3.09 billion.
At close, China's A-shares were trading at a premium of 28.09 per cent over the Hong Kong-listed H-shares.
The price-to-earnings ratio of the Hang Seng index was 14.02 as of the last full trading day while the dividend yield was 2.8 per cent.
So far this week, the market capitalisation of the Hang Seng index has risen by 2.96 per cent to HK$20.16 trillion.
The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 0.25 per cent on the day at 4,789.8 points.
Chinese appetite for Hong Kong equities, ample cash supply and optimism over share reforms could propel the city's benchmark stock index up as much as 15 per cent this year, after an already bullish run in 2017, fund managers and analysts say.
At close of trade, the Hang Seng index was up 78.16 points or 0.25 per cent at 30,814.64. The Hang Seng China Enterprises index rose 0.07 per cent to 12,211.63.
For the week, HSI was up 3.0 per cent, its fourth straight such gain and its best week since the one ended on Oct. 6.
The sub-index of the Hang Seng tracking energy shares rose 0.8 per cent while the IT sector rose 0.26 per cent, the financial sector was 0.2 per cent lower and property sector rose 2.32 per cent.
The top gainer on Hang Seng was Sino Land Co Ltd up 4.37 per cent, while the biggest loser was Hengan International Group Company Ltd which was down 2.98 per cent.
China's main Shanghai Composite index closed up 0.2 per cent at 3,392.3555 points while its blue-chip CSI300 index ended up 0.25 per cent.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.52 per cent while Japan's Nikkei index closed up 0.89 per cent.
The yuan was quoted at 6.4847 per US dollar at 08:11 GMT, 0.14 per cent firmer than the previous close of 6.494.
So far this year, the Hang Seng index is up 2.73 per cent, while China's H-share index is up 4.2 per cent. As of the previous close, the Hang Seng has risen 2.73 per cent this month.
The top gainers among H-shares were China Vanke Co Ltd up 6.38 per cent, followed by Postal Savings Bank of China Co Ltd gaining 3.1 per cent and China Shenhua Energy Co Ltd up by 2.38 per cent.
The three biggest H-shares per centage decliners were New China Life Insurance Co Ltd which was down 3.74 per cent, China Pacific Insurance Group Co Ltd which fell 3.1 per cent and Ping An Insurance Group Co of China Ltd down by 2.0 per cent.
About 2.33 billion Hang Seng index shares were traded, roughly 135.5 per cent of the market's 30-day moving average of 1.72 billion shares a day. The volume traded in the previous trading session was 3.09 billion.
At close, China's A-shares were trading at a premium of 28.09 per cent over the Hong Kong-listed H-shares.
The price-to-earnings ratio of the Hang Seng index was 14.02 as of the last full trading day while the dividend yield was 2.8 per cent.
So far this week, the market capitalisation of the Hang Seng index has risen by 2.96 per cent to HK$20.16 trillion.
The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was lower by 0.25 per cent on the day at 4,789.8 points.
