Shares of Hong Kong-listed mainland companies strengthened yesterday on speculation the H-share market will soon be open fully to domestic investors, according to brokers. The H-share index jumped 5.05 per cent to end at 411.31 points. At present most H-share companies are trading at less than 10 times price-to-earnings (PE) ratio, representing a deep discount to their A-share counterparts, which mostly trade at about 40 times to 50 times PE ratio. Morgan Stanley Dean Witter economist Andy Xie said he expected the value of A shares, B shares and H shares would gradually converge as the Beijing continues to open up the markets. Red-chip firms also gained from the sentiment, with the index rising 2.44 per cent or 29.55 points to last trade at 1,238.30 points. Shares in Shenyin & Wanguo and China Everbright jumped 17.57 per cent and 6.14 per cent on expectations both companies' brokerages would benefit in the long term from the continuing opening up of the securities markets.