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Staff of Reuters 2 Min Read* The HK->Shanghai Connect daily quota was utilized -3.8 percent, while the Shanghai->HK daily quota was used 3.1 percent. * HSI is unchanged, HSCE is down 0.21 percent, while CSI300 is down 1.1%. * After a media report, HK Exchanges and Clearing rises 3.8 percent. (Reuters) – BEIJING, July 16 – On Friday, Hong Kong stocks closed higher, marking a weekly gain, on prospects of policy support and after a media report claimed companies going public in the city will be excluded from cybersecurity inspections. * The Hang Seng index was up 8.41 points, or 0.03 percent, at 28,004.68 at the close of trading. The Hang Seng China Enterprises index dropped 0.21 percent to 10,152.95 points. * The Hang Seng increased 2.41 percent this week. * After a media report said China plans to exempt companies going public in Hong Kong from reviews by the country’s cybersecurity regulator, the benchmark index recovered earlier losses in the afternoon session, removing one barrier for businesses that list in the Asian financial hub rather than the United States. * Hong Kong Exchanges and Clearing’s stock climbed as high as 5.1 percent before closing 3.76 percent higher, its highest level since February 24. * The Hang Seng sub-index that tracks the banking sector increased 0.35 percent, while the IT sector rose 0.01 percent. * Xiaomi Corp was the top gainer on the Hang Seng on Friday, up 4.82 percent, while Shenzhou International Group Holdings Ltd was the largest loser, down 4.85 percent. * China’s better-than-expected June activity statistics, released on Thursday, also boosted sentiment. * The Shanghai Composite index finished 0.71 percent lower at 3,539.30 points, while the blue-chip CSI300 index fell 1.1 percent. ** MSCI’s Asia ex-Japan stock index was down 0.37 percent in the region, while Japan’s Nikkei index was down 0.98 percent. Cheng Leng and Andrew Galbraith contributed reporting, while Elaine Hardcastle edited the piece./nRead More

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