China stocks rise on boost from liquor companies

SHANGHAI, Sept 10 (Reuters) - China stocks rose on Thursday lifted by liquor companies, as Wall Street snapped a three-day losing streak overnight.

** At the midday break, the Shanghai Composite index was up 0.29% at 3,264.19 points. China’s blue-chip CSI300 index rose 0.82%. ** The CSI300 consumer staples sector jumped 1.41% as China’s biggest liquor makers hit all-time highs as many of them announced price hikes in recent sessions. ** Analysts said higher upward retail price adjustments were reflecting recovering demand and as the “golden week” National Day holiday also loomed. ** China’s largest liquor maker, Kweichow Moutai Co, rose as much as 3% to hit an all-time high and the country’s No.2 liquor maker Wuliangye Yibin Co gained as much as 2.93% in the morning session.

** The main U.S. indexes rose on Thursday as investors jumped back in to take advantage of the pullback in tech-related stocks. ** That helped China’s start-up board ChiNext, which is up more than 40% this year, gain 0.24% and Shanghai’s tech-focused STAR50 index climb 0.45%.

** Chinese financial technology firm Ant Group’s application for a local IPO on a Nasdaq-style market will be reviewed on Sept. 18, the Shanghai stock exchange said on Wednesday, bringing the company closer to its up to $30 billion dual-listing.

** Chinese H-shares listed in Hong Kong rose 0.11% to 9,739.54, while the Hang Seng Index gained 0.04% at 24,478.69. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.72%, while Japan’s Nikkei index rose 0.66%. ** The yuan was quoted at 6.8385 per U.S. dollar, 0.1% weaker than the previous close of 6.832. ** This year, the Shanghai stock index is up 7% and the CSI300 has risen 12.8%, while China’s H-share index listed in Hong Kong is down 12.8%. Shanghai stocks have declined 3.87% this month.

Reporting by Winni Zhou and Andrew Galbraith; Editing by Amy Caren Daniel

Nuestros Estándares: Los principios Thomson Reuters.