Hong Kong shares track regional rise on COVID-19 vaccine, U.S. stimulus hopes

Hong Kong shares ended higher on Thursday, tracking regional peers, as investors bet on COVID-19 vaccines to help end lockdowns and a Biden administration to bring more economic stimulus to the United States.

At the close of trade, the Hang Seng index was up 149.70 points, or 0.56pc, at 26,819.45.

The Hang Seng China Enterprises index rose 1.36pc to 10,701.49.

The sub-index of the Hang Seng tracking energy shares rose 1.9pc, while the IT sector rose 2.5pc and the financial sector ended 0.69pc higher.

Property shares fell, with the Hang Seng property sub-index giving up 0.93pc, as data showed private home prices in Hong Kong slipped 0.6pc in October.

Wharf Real Estate Investment Company Ltd was the biggest loser on the Hang Seng, falling 2.88pc.

The top gainer was China Petroleum & Chemical Corp, which gained 4.93pc.

Evergrande Property Service Group's Hong Kong IPO was priced at the lower end of expectations to raise $1.8 billion, three sources said, amid investor concern about the financial health of its parent.

China's main Shanghai Composite index closed up 0.22pc at 3,369.73 points, while the blue-chip CSI300 index ended up 0.18pc.

Around the region, MSCI's Asia ex-Japan stock index was up 0.59pc, while Japan's Nikkei index closed up 0.91pc.

The yuan was quoted at 6.5713 per U.S. dollar at 08:22 GMT, 0.13pc stronger than the previous close of 6.58.

The top gainers among H-shares were China Pacific Insurance Group Co Ltd, up 5.27pc, China Petroleum & Chemical Corp, which rose 4.93pc, and Meituan, up 4.9pc.

The three biggest H-shares percentage decliners were China Resources Land Ltd, down 2.2pc, CSPC Pharmaceutical Group Ltd, which fell 2.06pc and ENN Energy Holdings Ltd, down 1.52pc.