Hong Kong shares climb on U.S.-China trade deal hopes

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* Hang Seng adds 0.6%, H-shares up 0.7%

* Report claims U.S.-China trade deal emerging

* China says tariff rollback essential for deal

HONG KONG, Dec 5 (Reuters) – The Hong Kong stock market rose on Thursday on expectations that Beijing and Washington would reach a trade deal to avert fresh tariffs, but gains were capped by lingering concerns over mixed signals from U.S. President Donald Trump. ** The Hang Seng index closed up 0.6% at 26,217.04 points, while the Hang Seng China Enterprises index gained 0.7%. ** The sub-index of the Hang Seng tracking energy shares gained 0.7%, the IT sector climbed 0.8%, the financial sector ended 0.3% higher and the property sector was up 0.8%. ** The top gainer on the Hang Seng was AAC Technologies Holdings Inc, up 6.8%, while the biggest loser was Hong Kong Exchanges and Clearing Ltd, which fell 0.4%. ** Trump said talks with China were going “very well,” a day after spooking markets by saying a deal might have to wait until after the 2020 presidential election. ** The United States and China are moving closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal, Bloomberg reported on Wednesday, citing sources. ** China’s commerce ministry said on Thursday that tariffs must be lowered for there to be a “phase one” trade deal and that both sides are maintaining close communication. ** Completion of a “phase one” deal had been initially expected in November, ahead of a new round of U.S. tariffs scheduled to kick in on Dec. 15. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.6%, while Japan’s Nikkei index closed up 0.7%. ** About 1.23 billion Hang Seng index shares were traded, compared with the 1.50 billion in the previous session. ** At close, China’s A-shares were trading at a premium of 30.03% over Hong Kong-listed H-shares. (Reporting by Noah Sin; Editing by Sriraj Kalluvila)

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