Hong Kong Hang Seng surges 1.7%

Hong Kong stock market closed higher for a third consecutive session on Monday, 04 June 2018, taking their cue from Wall Street on Friday after the release of better-than-expected jobs numbers bolstering optimism in the world's largest economy. Sentiment was also boosted by receding political concerns in Italy. However, market gain was capped as some investors refrained from active trading ahead of the Group of Seven leaders' summit later this week, as well as the U.S.-North Korean summit and the U.S. Federal Reserve's policy meeting next week. The Hang Seng Index advanced 1.7%, or 505.07 points, to close at 30,997.98. The Hang Seng China Enterprises Index, known as the H-share index, gained 1.9%, or 229.49 points to 12,249.58. Turnover decreased to HK$103.5 billion from HK$120.7 billion on Friday.

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