17 de diciembre de 2014 / 4:48 / en 3 años

China stocks rise at midday as banks surge, Hong Kong drifts down

* SSEC +1.0 pct, CSI300 +1.3 pct, HSI -0.2 pct, HSCE +0.9 pct

* Banks lead A-shares, with CSI bank index up 5.8 pct

BEIJING, Dec 17 (Reuters) - China stocks climbed higher on Wednesday as bank shares continued to surge on mainland markets, but Hong Kong’s benchmark index slipped again and the price gap for dual-listed shares widened.

Financials have driven the mainland rally in recent weeks, taking markets to their highest levels in more than three years. Volume of financial-share trading rose on Wednesday, following four days of declines.

The CSI300 index rose 1.3 percent, to 3,347.26 points at the end of the morning session, while the Shanghai Composite Index gained 1.0 percent, to 3,051.46 points.

The CSI 300 banking index was up 5.81 percent at the end of the morning, led by a 9.99 percent increase in Minsheng Bank and 8.75 percent increase for Bank of Ningbo .

The Hang Seng index dropped 0.2 percent, to 22,617.62 points.

The Hong Kong China Enterprises Index gained 0.9 percent, to 11,237.92.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong climbed even further to 121.90, its highest mark since October 2011.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong.

As the mainland market has climbed, ever more retail investors have piled into A-shares to feed the rally while sentiment remains muted in Hong Kong on global growth concerns.

China CSI300 stock index futures for December rose 1.6 percent, to 3,355.2, a spread of 7.9 points above the current value of the underlying index.

Total volume of A shares traded in Shanghai was 31.83 billion shares, while Shenzhen volume was 13.23 billion shares.

Total trading volume of companies included in the HSI index was 1.1 billion shares. (Reporting by Jake Spring; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below