HSI ends up 25 pts at 25,428; turnover at HK$70bn

    HK stocks closed slightly higher on Wednesday with the benchmark index reversing early losses near market close, despite Moody's downgrades China's rating to A1 from Aa3.
  The Hang Seng Index ended up 25 points to 25,428, rising for four consecutive sessions. The H-share index dropped 4 points to 10,390. Turnover reduced to HK$70.07 billion from HK$84.8 billion on Tuesday.
  By market close, the northbound quota balance of the "Shanghai-HK Connect" program was Rmb12.649 billion, accounting for 97.3% of the daily allowed quota of Rmb13 billion. The southbound quota balance was Rmb9.561 billion, accounting for 91.1% of the daily allowed quota of Rmb10.5 billion.
  As for the Shenzhen-HK Connect, the northbound quota balance was Rmb12.155 billion, accounting for 93.5% of the daily allowed quota of Rmb13 billion. The southbound quota balance was Rmb10.009 billion, accounting 95.3% for of the daily allowed quota of Rmb10.5 billion. 
  Market heavyweights were mostly unchanged. China Mobile (00941) nudged up 0.06% to HK$86.3, while HSBC (00005) dipped 0.37% to HK$67.4.
  Cathay Pacific (00293) shot up 6.1% to HK$12.18 after Goldman Sachs upgraded the stock's rating, making itself the largest blue-chip gainer.
  Tencent (00700) slid 0.58% to HK$273.6. Kingsoft (03888) fell 2.05% to HK$21.55 after Nomura lowered its target price for the stock following its 1Q earnings announcement.