Hong Kong stocks rose on Friday amid hopes that Beijing and Washington will reach a deal in the latest round of trade negotiations. The Hang Seng index rose 0.3 percent to 31,047.91, while the China Enterprises Index gained 0.6 percent to 12,355.13.
China has offered US President Donald Trump a package of proposed purchases of American goods and other measures aimed at reducing the US trade deficit with China by some $200 billion a year. Meanwhile, China dropped its anti-dumping probe into imports of US sorghum on Friday, a move seen as a goodwill concession as Chinese Vice Premier Liu He was in Washington for trade talks.
The sub-index of the Hang Seng tracking energy shares rose 4.1 percent while the IT sector dipped 0.01 percent, the financial sector was 0.16 percent higher and property sector rose 0.3 percent. The top gainer on Hang Seng was PetroChina Co Ltd up 6.37 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd which was down 2.05 percent.
As of the previous trading session, the Hang Seng index was up 3.42 percent this year, while China's H-share index was up 4.9 percent. As of the previous close, the Hang Seng has risen 0.43 percent this month. The top gainers among H-shares were PetroChina Co Ltd up 6.37 percent, followed by China Shenhua Energy Co Ltd gaining 6.28 percent and Guangdong Investment Ltd up by 3.77 percent.
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