Hong Kong stocks end higher on China trade surprise, firmer yuan [Reuters]
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Source: Reuters
Hong Kong stocks end higher on China trade surprise, firmer yuan - Reuters 2 Min Read * HK-Shanghai Connect daily quota used 2.3%, Shanghai-HK daily quota used 3.8% * FTSE China A50 +1.5% SHANGHAI, Aug 8 (Reuters) - Hong Kong stocks climbed on Thursday, tracking broader Asia, as China reported surprisingly strong trade numbers and capped the yuan’s fall, offering a brief respite from fears of a global currency war. ** The Hang Seng index rose 0.5%, to 26,120.77, while the China Enterprises index also gained 0.5%, to 10,041.62. ** China’s exports unexpectedly rose in July, growing 3.3% from a year earlier, customs data showed on Thursday, beating analysts’ estimate of a 2% fall. ** China’s central bank on Thursday set its official yuan midpoint below the key 7/dollar threshold for the first time since the 2008 global financial crisis. ** Still, the yuan fixing was stronger than markets had feared and supported Asian equities broadly. State banks were also seen supporting the currency e
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