September 12, 2019 / 4:37 AM / in a year

China stocks firm as concessions raise trade hopes; Hong Kong slips

* SSEC +0.2%, CSI300 +0.4%, HSI -0.2%

* HK->Shanghai Connect daily quota used 2.3%, Shanghai->HK daily quota used 0%

* FTSE China A50 +0.7%

SHANGHAI, Sept 12(Reuters) - China stocks rose on Thursday as hopes grew for a thaw in Sino-U.S. trade tensions and investors expected more stimulus from Beijing after latest bank lending data.

** The CSI300 index rose 0.4%, to 3,945.75, by the end of the morning session, while the Shanghai Composite Index gained 0.2%, to 3,014.80.

** U.S. President Donald Trump on Wednesday welcomed China’s decision to exempt some U.S. anti-cancer drugs and other goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods.

** China on Wednesday announced its first batch of tariff exemptions for 16 types of U.S. products, including some anti-cancer drugs and lubricants, as well as animal feed ingredients whey and fish meal, according to a statement from the Ministry of Finance on its website.

** Gains were limited with the Shanghai index oscillating between gains and losses, as doubts remained as to whether the two sides would make any progress this time. Both sides are scheduled to meet early next month.

** Investors also expected Beijing to roll out more stimulus, as they watched the country’s latest money data and sluggish auto sales.

** China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-U.S. trade dispute takes a bigger toll on the economy.

** “August lending data is in line with market expectations. It shows increased support for the real economy. In the next step, monetary policy is expected to be preemptive and flexible, there is room for cutting interest rates and reserve requirements,” said Wen Bin, an economist at Minsheng Bank in Beijing.

** Meanwhile, data showed China’s total auto sales in August fell 6.9% from a year earlier, marking a 14th consecutive monthly drop.

** In Hong Kong, stocks slipped as investors took a breather after sharp gains in the previous session.

** The Hang Seng index dropped 0.2%, to 27,118.69, while the Hong Kong China Enterprises Index gained 0.3%, to 10,595.74.

** Hong Kong Exchanges and Clearing Ltd (HKEX) fell more than 3%, making it the biggest drag on the HSI, as investors weighed the merits of its $39 billion takeover approach to London Stock Exchange Plc (LSE), a deal that would make it a global giant.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.49%, while Japan’s Nikkei index was up 1.03%.

** The yuan was quoted at 7.0817 per U.S. dollar, 0.48% firmer than the previous close of 7.1159.

** The largest percentage gainers in the main Shanghai Composite index were Sichuan Xichang Electric Power Co Ltd , up 10.07%, followed by Guizhou Guihang Automotive Components Co Ltd, gaining 10.02%, and ENN Ecological Holdings Co Ltd, up by 9.98%.

** The largest percentage losers in the Shanghai index were Shandong Huifa Foodstuff Co Ltd, down 9.97%, followed by China Animal Husbandry Industry Co Ltd, losing 6.95%, and Besttone Holding Co Ltd, down by 6.74%.

** The top gainers among H-shares were ENN Energy Holdings Ltd, up 4.26%, followed by CSPC Pharmaceutical Group Ltd, gaining 3.41%, and Sunac China Holdings Ltd , up by 3.19%.

** The three biggest H-shares percentage decliners were Byd Co Ltd, which fell 2.24%, China Shenhua Energy Co Ltd , which lost 1.8%, and PetroChina Co Ltd, down by 1.4%.

** As of 04:15 GMT, China’s A-shares were trading at a premium of 28.51% over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Subhranshu Sahu

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