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Hong Kong stocks rise as investors cheer COVID-19 vaccine progress

* HK->Shanghai Connect daily quota used 5.6%, Shanghai->HK daily quota used -0.3%

* HSI +1.1%, HSCE -0.4%, CSI300 -0.6%

* FTSE China A50 -0.2%

Nov 10 (Reuters) - Hong Kong stocks rose on Tuesday, in line with gains in other parts of Asian markets, as investors cheered progress in the development of a COVID-19 vaccine.

** At the close of trade, the Hang Seng index was up 285.31 points, or 1.1%, at 26,301.48. The Hang Seng China Enterprises index fell 0.43% to 10,586.89.

** The sub-index of the Hang Seng tracking energy shares rose 9.3%, while the IT sector dipped 5.98%, the financial sector ended 3.31% higher and the property sector rose 4.8%.

** The top gainer on the Hang Seng was CNOOC Ltd, which gained 13.96%, while the biggest loser was Techtronic Industries Co Ltd, which fell 9.79%.

** Pfizer Inc’s experimental COVID-19 vaccine is more than 90% effective based on initial trial results, the drugmaker said on Monday, a major victory in the war against a virus that has killed over a million people and battered the global economy.

** But tech shares tracked overnight weakness on the Nasdaq Composite, as companies that outperformed during the pandemic fell on news of Pfizer’s vaccine progress.

** The Hang Seng tech index tumbled 5.2%, posting its worst day since July 16.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.92%, while Japan’s Nikkei index closed up 0.26%.

** The yuan was quoted at 6.6087 per U.S. dollar at 0820 GMT, 0.29% firmer than the previous close of 6.628.

** At close, China’s A-shares were trading at a premium of 40.64% over Hong Kong-listed H-shares. (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)

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