March 1, 2016 / 7:13 AM / a month ago

China stocks rise ahead of likely Fed rate cut; trade talks in focus

SHANGHAI, Sept 18 (Reuters) - China stocks rose on Wednesday on expectations of lower borrowing costs at home and the United States, with a resumption of trade talks between Beijing and Washington aiding risk appetite.

** China’s blue-chip CSI300 Index gained 0.5% to 3,910.08, while the Shanghai Composite Index rose 0.3% to 2,985.65860. ** The U.S. Federal Reserve is widely expected to lower key borrowing costs by 25 basis points later on Wednesday. ** Although the People’s Bank of China (PBOC) kept the rate unchanged on one-year loans from its medium-term lending facility (MLF) on Tuesday, analysts still expect banks to set Loan Prime Rates (LPRs) lower at Friday’s monthly fixing.

** A cut in LPRs - China’s benchmark rates for new loans - could lead to lower borrowing costs for consumers and companies in a slowing economy.

** Investors are also closely monitoring developments in the U.S.-China trade talks. U.S. and Chinese deputy trade negotiators are due to meet in Washington this week, to pave the way for high-level talks in early October.

** U.S. President Donald Trump said on Tuesday his administration could seal a deal on trade with China before the U.S. presidential election, or an agreement could be reached the day after voters go to the polls.

** Consumer and healthcare stocks led the gains in China, while telecommunications and energy stocks fell. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

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