Hong Kong shares hit 3-week high, Shanghai turns positive for 2014

lunes 17 de febrero de 2014 00:38 GYT
 

* HSI +0.9 pct, H-shares +1.6 pct, CSI300 +0.2 pct

* Robust China loan data spurs guarded cyclical gains

* Chinese insurers jump after January premium growth

* Daqin Railway sheds early gains despite policy news

By Clement Tan

HONG KONG, Feb 17 (Reuters) - Hong Kong shares hit their highest in three weeks early on Monday, led by insurers which posted strong January premium growth and helped by robust China bank lending data.

But mainland markets were less sanguine, with mid-sized banks among the biggest drags on the index. Still, gains on the day helped push the Shanghai Composite Index into positive territory in 2014 for the first time.

At midday, the CSI300 of the largest Shanghai and Shenzhen A-share listings was up 0.2 percent, while the Shanghai Composite Index rose 0.5 percent and was now up 0.5 percent on the year. The CSI300 was still down more than 1 percent in 2014.

The Hang Seng Index rose 0.9 percent to 22,497.8 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong climbed 1.6 percent. Both were at their highest since Jan. 24.   Continuación...