BEIJING: Hong Kong shares ended higher for a fourth consecutive session on Wednesday, as hopes for a new round of U.S. fiscal stimulus and strong third quarter results due to China's accelerated economic recovery boosted sentiment.
At the close of trade, the Hang Seng index was up 184.88 points or 0.75% at 24,754.42. The Hang Seng China Enterprises index rose 0.9% to 10,077.78.
The sub-index of the Hang Seng tracking energy shares rose 0.7%, while the IT sector rose 0.84%, the financial sector ended 0.46% higher and the property sector dipped 0.38%.
The top gainers among H-shares were China Unicom Hong Kong Ltd up 11.11%, followed by China Telecom Corp Ltd. Both posted their best intraday gain since Aug. 13.
Investors expected strong performance from the upcoming third quarter earnings from the two companies due to growing subscriber base especially with 5G package customers, said Reo Liao, an analyst with online trading platform IG.com.
Shares of Cathay Pacific Airways Ltd closed 2.27% higher after the carrier announced a restructuring plan involving job cuts and a decision to end Cathay Dragon brand due to the COVID-19 pandemic.
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