June 27, 2019 / 4:46 AM / 3 months ago

China stocks gain on hopes of Sino-U.S. trade truce

* SSEC 0.9%, CSI300 1.3%, HSI 1.1%

* Trump says deal with Xi is possible

* Liquor giant Kweichow Moutai hits fresh peak

* Yuan firms slightly against dollar

SHANGHAI, June 27 (Reuters) - Chinese shares rebounded on Thursday on hopes that Washington and Beijing could be closer to a truce in their trade war, ahead of a meeting between both the countries this weekend. ** At the midday break, the Shanghai Composite index was up 0.89% at 3,002.72 points, following two days of losses. ** China’s blue-chip CSI300 index climbed 1.27%, with its financial sector sub-index higher by 1.52%, the consumer staples sector up 1.67%, the real estate index rose 0.82% and the healthcare sub-index gained 1%. ** U.S. President Donald Trump said on Wednesday that a deal with his Chinese counterpart Xi Jinping was possible this weekend, but that he is prepared to impose U.S. tariffs on virtually all remaining Chinese imports if the two countries continue to disagree. ** Supporting hopes for a trade war resolution, the South China Morning Post reported that the United States and China had agreed to a tentative truce ahead of the meeting between Xi and Trump. ** Chinese H-shares listed in Hong Kong rose 1.31% at 10,906.74, while the Hang Seng Index was up 1.13% at 28,542.23. ** The smaller Shenzhen index was up 1.17% and the start-up board ChiNext Composite index climbed 1.29%. ** Shares of Kweichow Moutai Co Ltd climbed as much as 2.2% to a record high before finishing the morning session up 1.86%. Investors expect consumer firms to benefit from Beijing’s measures to promote domestic consumption amid the trade war. An index tracking consumer staples firms was 1.67% higher. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.73%, while Japan’s Nikkei index gained 0.92%. ** The yuan was quoted at 6.8782 per U.S. dollar, 0.03% firmer than the previous close of 6.8803. ** The largest percentage gainers in the main Shanghai Composite index were Cashway Technology Co Ltd, up 10.04%, followed by Shanghai Shenqi Pharmaceutical Investment Management Co Ltd, gaining 10.03% and Anhui Golden Seed Winery Co Ltd, up by 10.02%. ** The largest percentage losses in the Shanghai index were China Sports Industry Group Co Ltd, down 10.02%, followed by First Tractor Co Ltd, which lost 10.02% and Dawning Information Industry Co Ltd, which slipped 9.99%. ** So far this year, the Shanghai stock index is up 19.34%, while China’s H-share index is up 6.3%. Shanghai stocks climbed 2.68% so far this month. ** The top gainers among H-shares were CITIC Securities Co Ltd , up 4.29%, followed by Huatai Securities Co Ltd , gaining 3.59% and Guangzhou Automobile Group Co Ltd , up by 3.44%. ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, which fell 0.84%, and Guangdong Investment Ltd, which lost 0.1%. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.4%, while the IT sector climbed 1.6%. The top gainer on the Hang Seng was Galaxy Entertainment Group Ltd, up 3.87%, while the biggest loser was Link Real Estate Investment Trust, which dipped 0.72%.

Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips

Nuestros Estándares:Los principios Thomson Reuters
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