Hong Kong stocks end higher as investors bet on vaccine progress

Hong Kong stocks ended marginally higher on Thursday, lifted by hopes for additional U.S. economic stimulus and optimism over a COVID-19 vaccine that could potentially bring the pandemic under control.

Britain approved Pfizer Inc's COVID-19 vaccine on Wednesday, jumping ahead of the rest of the world in the race to begin the most crucial mass inoculation programme in history.

Meanwhile, the Institute of Microbiology at the Chinese Academy of Sciences said on Thursday that it worked with China's Chongqing Zhifei to carry out phase III trial of a coronavirus vaccine in Hunan province in November.

At the close of trade, the Hang Seng index was up 195.92 points or 0.74pc at 26,728.50.

The Hang Seng China Enterprises index rose 0.12pc to 10,586.37.

The top gainer in the Hang Seng was CSPC Pharmaceutical Group Ltd, which gained 5.91pc, while the biggest loser was CITIC Ltd, which fell 6.47pc.

Some investors said the market also looked forward to additional economic stimulus from Washington.

Republicans and Democrats in Congress remained unable to reach agreement on fresh relief for a pandemic-hit U.S. economy on Wednesday, however, there were early signs that a $908 billion bipartisan proposal could be gaining traction as a negotiating tool.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.27pc, while Japan's Nikkei index closed up 0.03pc.