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Mercados

China stocks gain on upbeat industrial data, tech bounce

* SSEC 0.3%, CSI300 0.2%, HSI -0.6%

* ChiNext index jumps 1.94%, resumes reform-driven rally

* HSBC weighs on Hang Seng index after Pompeo criticism

SHANGHAI, Aug 27 (Reuters) - Chinese shares rose on Thursday, boosted by technology shares, as data showed faster growth at industrial firms in July in a sign of a firming economic recovery from the coronavirus-driven slump. ** Profits at China’s industrial firms grew for a third straight month in July and at the fastest pace since June 2018, the National Bureau of Statistics (NBS) data showed. That helped a CSI 300 sub-index tracking industrial firms rise 0.91%. ** At the midday break, the Shanghai Composite index was up 0.29% at 3,339.40. The blue-chip CSI300 index was up 0.24%. ** Technology firms resumed a rally driven by reforms implemented this week on China’s tech-heavy ChiNext board after losses that dragged down the broader market on Wednesday. ** The ChiNext index, which is up 2.4% for the week, gained 1.94% on Thursday and Shanghai’s tech-focused STAR50 index was up 2.85%. Shenzhen’s main index added 0.83%. ** Chinese H-shares listed in Hong Kong fell 0.77% to 10,220.96 and the Hang Seng Index was down 0.63% at 25,331.80. ** Hong Kong shares of HSBC Holdings PLC fell 1.62% and weighed on the Hang Seng index, as U.S. Secretary of State Mike Pompeo renewed criticism of the bank for its reported treatment of customers linked with the pro-democracy movement in the Chinese-ruled city. ** Around the region, MSCI’s Asia ex-Japan stock index gained 0.38% while Japan’s Nikkei index was down 0.36%. ** The yuan was quoted at 6.8837 per U.S. dollar, 0.03% firmer than the previous close of 6.8855. ** The largest percentage gainers on the main Shanghai Composite index were Whirlpool China Co Ltd, up 10.06%, followed by Shanghai Industrial Development Co Ltd, gaining 10.04%, and Zhejiang Shapuaisi Pharmaceutical Co Ltd , which rose 10.01%. ** The Shanghai stock index is up 9.48% this year, while China’s H-share index is down 8.48%.

Reporting by Andrew Galbraith; Editing by Amy Caren Daniel

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