Hong Kong stocks close up 0.42%

The Hang Seng Index added 90.86 points to 21,837.12, while the Shanghai Composite Index rose 0.26 per cent, or 5.19 points, to 2,015.27.

Hong Kong stocks have closed 0.42 per cent higher on positive Chinese trade data and upbeat comments on the US economy from Federal Reserve chief Janet Yellen.

The benchmark Hang Seng Index added 90.86 points to 21,837.12 on turnover of HK$65.20 billion ($A9.10 billion).

Leading the day's advancers, China Mobile climbed 3.44 per cent to HK$75.25 while China Unicom rose 2.76 per cent to HK$12.68.

Shares in Macau gaming and entertainment companies fell after the South China Morning Post reported the Asian gambling hub would crack down on illegal money transfers over concerns by Beijing that billions of yuan in illicit funds were being channelled out of mainland China and into casinos.

Galaxy Entertainment Group fell 7.26 per cent to HK$55.60 and Sands China Ltd slid 4.26 per cent to HK$52.75.

Chinese stocks ended mixed despite an improvement in April's foreign trade showing exports and imports rose marginally, rebounding from sharp declines the month before.

The benchmark Shanghai Composite Index rose 0.26 per cent, or 5.19 points, to 2,015.27 on turnover of 59.5 billion yuan ($A10.28 billion).

The Shenzhen Composite Index, which tracks stocks on China's second exchange, slipped 0.17 per cent, or 1.79 points, to 1,026.20 on turnover of 69.8 billion yuan.

Exports crept up 0.9 per cent year-on-year to $US188.54 billion ($A204 billion) in April and imports increased 0.8 per cent to $170.09 billion, the government said Thursday, but both rebounded from sharp declines in March.

"Trade figures didn't seem to have any big impact on the market as the rises were mainly driven by small-cap stocks on the main board," Haitong Securities analyst Zhang Qi told AFP, referring to the Shanghai market.

"It's still uncertain whether the recovery in trade will be sustainable," he said.

Investors remained cautious ahead of the release of inflation figures for April on Friday, analysts said.

Coal firms led the gains. Shanxi Coal International Energy Group soared by its 10 per cent daily limit to 3.81 yuan while Datong Coal Industry also surged 10 per cent to 5.31 yuan.

Heavyweight financial stocks rose on cheap valuations. Industrial Securities jumped 4.52 per cent to 9.01 yuan, Agricultural Bank of China gained 0.42 per cent to 2.39 yuan and ICBC rose 0.29 per cent to 3.43 yuan.


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Source: AAP


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