Hong Kong stocks rose on Thursday, led by property and IT shares, as investors shrugged off concerns that growing trade tensions will hurt the global economy. The Hang Seng index rose 0.3 percent, to 31,541.10 points, while the China Enterprises Index gained 0.3 percent, to 12,719.84 points.
The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent, the IT sector rose 0.79 percent and the financial sector was 0.3 percent higher while the property sector rose 0.73 percent. The top gainer on Hang Seng was Country Garden Holdings Co Ltd, up 4.07 percent, while the biggest loser was China Mengniu Dairy Co Ltd, down 3.85 percent. As of the previous trading session, the Hang Seng index was up 5.07 percent this year while China's H-share index was up 8.3 percent. As of the previous close, the Hang Seng had risen 1.91 percent this month.
The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 3.75 percent, followed by Ping An Insurance Group Co of China Ltd gaining 3.55 percent and China Pacific Insurance Group Co Ltd up by 3.08 percent. The three biggest H-shares percentage losers were China Shenhua Energy Co Ltd, down 2.24 percent, Zhuzhou CRRC Times Electric Co Ltd, down 2.1 percent and Dongfeng Motor Group Co Ltd, down 2 percent. About 1.54 billion Hang Seng index shares were traded, roughly 61.7 percent of the market's 30-day moving average of 2.50 billion shares a day. The volume traded in the previous trading session was 1.76 billion.
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