June 19, 2020 / 5:31 AM / a month ago

China stocks rise on policy support optimism

* SSEC 0.0%, CSI300 0.0%, HSI 0.0%

* HK->Shanghai Connect daily quota used 100%, Shanghai->HK daily quota used 100%

* FTSE China A50 +0.0%

SHANGHAI, June 19 (Reuters) - China shares gained on Friday due to hopes of more policy support, expectations of higher foreign inflows and the containment of an outbreak of the new coronavirus in Beijing.

** In Hong Kong, shares dipped as other Asian markets wobbled on persisting worries about a fresh surge in cases of the novel coronavirus in major global economies.

** China’s bluechip index CSI300 rose 0.7% to 4074.37 and the Shanghai Composite Index gained 0.4% to 2950.74. Shenzhen’s start-up board ChiNext hit four-year highs as regulators revamped its listing system.

** Hong Kong benchmark Hang Seng Index fell 0.1% to 24448.16, while HSCE, which tracks Hong Kong-listed Chinese companies, was roughly flat at 9914.81.

** Chinese policymakers pledged that the government will maintain ample liquidity in the financial system in the second half of the year, pushing investors to look past a threat from U.S. President Donald Trump about cutting ties with China.

** Risk appetite also improved after the chief epidemiologist of China’s Center for Diseases Prevention and Control said that the outbreak in Beijing had been brought under control.

** Also aiding sentiment was global index publisher FTSE Russels’ plan to complete the final stage of its Phase I China A-share inclusion on Friday, which, Yuekai Securities expects, will attract about $3.6 billion of foreign inflows.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.14% and Japan’s Nikkei index was up 0.62%.

** The yuan was quoted at 7.0869 per U.S. dollar, 0.02% firmer than the previous close of 7.0883.

** As of 0428 GMT, China’s A-shares were trading at a premium of 25.87% over the Hong Kong-listed H-shares. (Reporting by Samuel Shen and Andrew Galbraith; editing by Uttaresh.V)

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