China, Hong Kong stocks end sharply lower as trade war, weaker confidence bite.
SHANGHAI: Hong Kong stocks rose on Tuesday, tracking a global rebound, as some investors sought bargains following last week's savage sell-off.
At close of trade, the Hang Seng index was up 379.90 points or 1.29 percent at 29,839.53.
The Hang Seng China Enterprises index rose 0.88 percent to 12,004.51.
The sub-index of the Hang Seng tracking energy shares rose 0.2 percent while the IT sector rose 2.96 percent, the financial sector was 1.38 percent higher and property sector rose 0.54 percent.
The top gainer on Hang Seng was Sunny Optical Technology Group Co Ltd up 6.22 percent, while the biggest loser was Lenovo Group Ltd which was down 1.54 percent.
China's main Shanghai Composite index closed up 1 percent at 3,185.5964 points while its blue-chip CSI300 index ended up 1.19 percent.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.89 percent while Japan's Nikkei index closed down 0.65 percent .
The yuan was quoted at 6.3457 per U.S. dollar at 08:15 GMT, 0.3 percent weaker than the previous close of 6.3268.
As of the previous trading session, the Hang Seng index was down 1.54 percent this year, and declined 10.42 percent this month, while China's H-share index was up 1.6 percent.
The top gainers among H-shares were Ping An Insurance Group Co of China Ltd up 3.52 percent, followed by SINOPHARM GROUP CO LTD gaining 2.47 percent and CITIC Securities Co Ltd up by 2.35 percent.
The three biggest H-shares percentage decliners were Air China Ltd which was down 2.58 percent, China Telecom Corp Ltd which fell 2.3 percent and China Petroleum & Chemical Corp down by 1.5 percent.
About 2.79 billion Hang Seng index shares were traded, roughly 85.5 percent of the market's 30-day moving average of 3.26 billion shares a day. The volume traded in the previous trading session was 2.90 billion.
At close, China's A-shares were trading at a premium of 30.00 percent over the Hong Kong-listed H-shares.
The price-to-earnings ratio of the Hang Seng index was 13.38 as of the last full trading day while the dividend yield was 3 percent. - Reuters
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