August 17, 2017 / 4:57 AM / a year ago

China stocks higher on materials, shipping gains; Hong Kong flat

* SSEC +0.4 pct, CSI300 +0.4 pct, HSI 0.0 pct

* Materials, shipping and shipbuilding firms rise

* Cathay Pacific up 2.1 pct despite heavy H1 loss

SHANGHAI, Aug 17 (Reuters) - China stock indexes rose on Thursday as materials firms won back ground lost in the previous session, but weakness in technology and consumer non-cyclicals kept a lid on gains.

The CSI300 index advanced 0.4 percent, to 3,714.46 points at the end of the morning session. The Shanghai Composite Index also gained 0.4 percent, to 3,258.91 points.

China CSI300 stock index futures for August rose 0.4 percent, to 3,706.8, or 7.66 points below the current value of the underlying index.

“The Shanghai index faces resistance at the 3,300-point level,” said Li Zheming, an analyst at Daton Securities. “Since the beginning of August, we’ve seen strength in consumer and cyclical sectors, but it’s not clear that the strength is sustainable.”

The materials sub-index was 0.9 percent higher, and non-ferrous metal producer Shenzhen Zhongjin Lingnan Nonfemet Co Ltd jumped 5.8 percent.

Shipping and shipbuilding companies were also higher, with their prospects lifted as the Baltic Exchange’s main sea freight index rose for a 13th straight session.

COSCO Shipping Holdings Co Ltd gained 5.7 percent and China CSSC Holdings Ltd surged 7.7 percent.

In Hong Kong, the Hang Seng index was unchanged at 27,408.66 points as declines for financials and property developers offset advances in other sectors as investors digested major earnings releases and company announcements.

The Hong Kong China Enterprises Index lost 0.4 percent, to 10,773.45.

Hang Lung Properties Ltd was 1.6 percent lower, and AIA Group Ltd was down 1.5 percent.

Cathay Pacific climbed 2.1 percent despite reporting a net loss of HK$2.05 billion ($262.07 million), its worst first-half result in at least two decades. Analysts said they believe losses have bottomed out.

Tencent Holdings Ltd rose 3.5 percent after announcing a 70-percent rise in Q2 profit on Wednesday.

Shares of Minsheng Education Group Co Ltd were up 17.3 percent. They rose as much as 24 percent to three-week highs on news the company will be included in the Hang Seng Composite Index.

Pork producer WH Group, which will join the Hang Seng Index on Sept. 4, was 3.1 percent higher.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 128.47.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa. ($1 = 7.8222 Hong Kong dollars)

Reporting by Andrew Galbraith; Editing by Richard Borsuk

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