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Thursday, December 8, 2016, 16:31

Stocks up for 3rd day, mainland concerns limit gains

By Reuters

Hong Kong stocks rose for the third straight session on Thursday, drawing some support from Wall Street although demand was tempered by weakness in mainland shares after mainland's falling foreign exchange reserves deepened capital outflow concerns.

The benchmark Hang Seng index pared some early gains and added 0.3 percent at the close, to 22,861.84 points, while the Hong Kong China Enterprises Index gained 0.7 percent, to 9,896.82 points.

Wall Street surged overnight, with the Dow Industrials and S&P 500 both hitting fresh records, extending their gains since Republican Donald Trump's victory in the US presidential vote last month.

Still, the upside was limited by a softer close for mainland shares after mainland's foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years.

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