September 4, 2019 / 7:35 AM / 17 days ago

China stocks climb on upbeat services sector survey, sharp HK gains

* SSEC +0.9%, CSI300 +0.8%

* HK->Shanghai Connect daily quota used 9.8%, Shanghai->HK daily quota used 2.7%

* FTSE China A50 +1.0%

SHANGHAI, Sept 4 (Reuters) - China stocks closed higher on Wednesday, bolstered by a private survey showing an upbeat services sector and helped by sharp gains in Hong Kong following reports the government would formally withdraw the proposed extradition bill.

** The blue-chip CSI300 index rose 0.8%, to 3,886.00, while the Shanghai Composite Index ended up 0.9%, at 2,957.41.

** Activity in China’s services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year, a private survey showed.

** “China’s economy showed clear signs of a recovery in August, especially in the employment sector,” Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, said in a statement.

** The survey helped offset worries over the more than year-long trade dispute between the world’s two biggest economies.

** U.S. President Donald Trump on Tuesday warned he would be “tougher” on Beijing in a second term if trade talks dragged on, compounding market fears that ongoing trade disputes could trigger a U.S. recession.

** Sentiment was also boosted by robust gains in Hong Kong stocks, which surged more than 3% in afternoon session.

** Hong Kong leader Carrie Lam will announce on Wednesday the formal withdrawal of an extradition bill that triggered months of unrest and has thrown the Chinese-controlled city into its worst crisis in decades, Cable TV and other media said.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.49%, while Japan’s Nikkei index closed up 0.12%.

** At 07:17 GMT, the yuan was quoted at 7.163 per U.S. dollar, 0.22% firmer than the previous close of 7.1788.

** The largest percentage gainers in the main Shanghai Composite index were Ningxia Jiaze Renewables Corp Ltd , up 10.07%, followed by Bank of Xi’An Co Ltd , gaining 10.04%, and Guangdong Ellington Electronics Technology Co Ltd, up by 10.04%.

** The largest percentage losers in the Shanghai index were Co Ltd, down 7.32%, followed by Xinhuanet Co Ltd, losing 5.92%, and Shandong Pharmaceutical Glass Co Ltd, down by 5.91%.

** As of 07:18 GMT, China’s A-shares were trading at a premium of 28.32% over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

Nuestros Estándares:Los principios Thomson Reuters
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