May 11, 2020 / 5:09 AM / 3 months ago

Hong Kong stocks rise as more nations look to ease lockdowns

* SSEC 0.1%, CSI300 0.2%, HSI 2.0%

* HK->Shanghai Connect daily quota used 2.5%, Shanghai->HK daily quota used -2.2%

* FTSE China A50 +0.3%

SHANGHAI, May 11 (Reuters) - Hong Kong shares tracked Wall Street higher on Monday, on course for their best session since April 7, as more countries looked to restart their economies.

** Chinese H-shares listed in Hong Kong rose 1.75% to 10,041.16 by the midday break, while the Hang Seng Index was up 1.97% at 24,706.50.

** The Shanghai Composite index was up 0.13% at 2,899.01.

** China’s blue-chip CSI300 index was up 0.21%, with its financial sector sub-index higher by 0.34%, the consumer staples sector down 0.58%, the real estate index up 0.13% and the healthcare sub-index down 1.38%.

** Millions of French people are set to cautiously emerge from one of Europe’s strictest lockdowns on Monday, as countries across Europe ease restrictions.

** The disparate situation between the market and the economic readings on hand appears to have extended through last week with the continued hopes for speedy recovery alongside reopening, Jingyi Pan, market strategist at IG, said in a note.

** China reported 17 new COVID-19 cases in the mainland on May 10, marking the highest daily increase since April 28.

** The country’s central bank on Sunday signalled more policy support for the economy and said it lowered interest rates on its standing lending facility (SLF) in April.

** The smaller Shenzhen index was down 0.05% and the start-up board ChiNext Composite index was weaker by 0.91%.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.24% while Japan’s Nikkei index was up 1.56%.

** The yuan was quoted at 7.0811 per U.S. dollar, 0.09% weaker than the previous close of 7.0749.

** As of 0406 GMT, China’s A-shares were trading at a premium of 25.81% over the Hong Kong-listed H-shares. (Reporting by Luoyan Liu and Andrew Galbraith; editing by Uttaresh.V)

Nuestros Estándares:Los principios Thomson Reuters
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