July 23, 2019 / 7:37 AM / a month ago

China stocks end higher as IT, infrastructure firms lend support

* SSEC +0.5%, CSI300 +0.2%, HSI +0.3%

* HK->Shanghai Connect daily quota used 1%, Shanghai->HK daily quota used 1.6%

* FTSE China A50 -0.2%

SHANGHAI, July 23 (Reuters) - China stocks ended higher on Tuesday, aided by gains in infrastructure and IT firms, even as the newly launched Nasdaq-style STAR Market continued to attract attention.

** The blue-chip CSI300 index rose 0.2%, to 3,789.91, while the Shanghai Composite Index closed up 0.5%, at 2,899.94.

** Companies on China’s new Nasdaq-style bourse retreated on Tuesday, shedding some of the massive gains made on their volatile debut in the previous session, although all remained well above their listing prices.

** The industry ministry said on Tuesday that “arduous efforts” will be needed to achieve this year’s industrial output growth target, as trade protectionism weighs on exports and clouds the outlook for the world’s second-largest economy.

** The CSI IT index and the CSI300 infrastructure index climbed 1.9% and 0.9%, respectively, offsetting losses for real estate and food & beverage firms, which shed 2.2% and 1.2%, respectively.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.13%, while Japan’s Nikkei index closed up 0.95%.

** At 07:18 GMT, the yuan was quoted at 6.8827 per U.S. dollar, 0.01% weaker than the previous close of 6.8817.

** The largest percentage gainers in the main Shanghai Composite index were Anhui Liuguo Chemical Co Ltd, up 10.11%, followed by Shanghai Huitong Energy Co Ltd , gaining 10.05%, and Ningbo Tianlong Electronics Co Ltd, up by 10.03%.

** The largest percentage losers in the Shanghai index were Guangzhou Yuetai Group Co Ltd, down 10.13%, followed by Seazen Holdings Co Ltd, losing 10%, and Suzhou Secote Precision Electronic Co Ltd, down by 10%.

** So far this year, the Shanghai stock index is up 16.3% and the CSI300 has risen 25.9%, while China’s H-share index listed in Hong Kong is up 6.8%. Shanghai stocks have declined 2.65% this month.

** About 12.93 billion shares were traded on the Shanghai exchange, roughly 67.2% of the market’s 30-day moving average of 19.26 billion shares a day. The volume in the previous trading session was 18.07 billion.

** As of 07:19 GMT, China’s A-shares were trading at a premium of 27.47% over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

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