Hong Kong Stocks gain 0.7%

Headline shares of the Hong Kong market closed higher for third straight session on Monday, 19 November 2018, as dovish comments from a Federal Reserve official helped weaken the US dollar and Treasury yields. At closing bell, the Hang Seng Index advanced 188.47 points or 0.72% to 26,372. The Hang Seng China Enterprises Index increased by 47.89 points or 0.45% to 10,631.66. Forty blue chips, among the 50, rose, and 10 fell.

U.S. President Donald Trump said Friday his country may not slap more tariffs on Chinese products if Beijing makes some more concessions.

Handset component suppliers were higher in tandem with the rebound of Apple share price. Sunny Optical (02382) jumped 3.5% to HK$77.6. AAC Technologies (02018) rebounded 4.7% to HK$56. Q Technology (01478) nudged up 0.8% to HK$4.74. FIT Hon Teng (06088) was unchanged at HK$3.63. BYD Electronic (00285) edged up 0.2% to HK$11.26.

Chinese property counters were higher as mainland analysts expected downside pressure in the economy, which may trigger the relaxation of policies on loan rates and down payment. China Resources Land (01109) jumped 4.6% to HK$29.8. China Overseas Land & Investment (00688) gained 4% to HK$27.5. Country Garden (02007) rose 2.7% to HK$9.38. Sunac China (01918) soared 5% to HK$25.05. China Vanke (02202) shot up 5.5% to HK$28

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