HK shares end higher as ZTE surge calms trade war panic
Wednesday, 20 June 2018 15:56 WIB | MARKET UPDATE |HANG SENGSaham Hong KongHang Seng China EnterprisesIndeks Hang Seng

Hong Kong stocks tracked Asian shares to end higher on Wednesday, rebounding after the previous session™s rout, as the surge in ZTE Corp helped sooth immediate panic over a Sino-U.S. trade war.

The Hang Seng index ended 0.8 percent higher at 29,696.17, while the China Enterprises Index closed 0.1 percent higher at 11,505.74 points.

ZTE Corp , the Chinese technology firm caught in the crossfire of Sino-U.S. trade friction, closed 20 percent higher in Hong Kong on Wednesday as the impact of a U.S. Senate bill that threatens to restore penalties on the company became clearer.

The sub-index of the Hang Seng tracking energy shares rose 1.6 percent, while the IT sector gained 0.92 percent, the financial sector ended 0.56 percent higher and property sector closed up 0.62 percent.

The top gainer on Hang Seng was Want Want China Holdings Ltd up 4.08 percent, while the biggest loser was Country Garden Services Holdings Company Ltd, which closed down 9.80 percent.

Source: Reuters

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