May 7, 2018 / 4:47 AM / a year ago

China, HK stocks rise on economic optimism despite trade tensions

* SSEC 1.2 pct, CSI300 1.3 pct, HSI 0.5 pct

* HK->Shanghai Connect daily quota used 3.3 pct, Shanghai->HK daily quota used 1.3 pct

* China economy expected to remain solid despite trade tensions

SHANGHAI, May 7 (Reuters) - China stocks rose on Monday, as investors expect strong economic data for April, and responded positively to new rules that would allow domestic listings of overseas-listed IT giants. Hong Kong shares tracked Asian markets higher after a tame reading on U.S. wages lowered risks of faster rate hikes by the Federal Reserve.

** Meanwhile, fears of a full-flown Sino-U.S. trade war eased. UBS Securities wrote on Monday the continued negotiations will likely result in a scale back of the current proposal on tariffs as China quickens its implementation of some announced opening and reform measures in the next couple of months.

** The CSI300 index was up 1.3 percent at 3,821.97 points at the end of the morning session, while the Shanghai Composite Index gained 1.2 percent to 3,128.34.

** In Hong Kong, the Hang Seng index added 0.5 percent to 30,077.63 points, while the Hong Kong China Enterprises Index climbed 1 percent to 12,011.51.

** A flurry of Chinese data in coming weeks is expected to show that the world’s second-largest economy remained strong in April, underpinned by a pick-up in industrial output and a rebound in exports despite rising trade tensions with the United States.

** Tech shares in China rose sharply, after China’s securities regulator on Friday published draft rules on the issuance of China Depositary Receipts, or CDRs, paving the way for domestic flotation of offshore-listed technology giants.

** The smaller Shenzhen index was up 1.52 percent and the start-up board ChiNext Composite index was higher by 1.73 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.34 percent, while Japan’s Nikkei index slipped 0.07 percent. ** The yuan was quoted at 6.3554 per U.S. dollar, 0.07 percent firmer than the previous close of 6.36. ** The largest percentage gainers in the main Shanghai Composite index were Fujian Kuncai Material Technology Co Ltd, which gained 10.03 percent, followed by Yibin Paper Industry Co Ltd, which jumped 10.03 percent and Guangdong Dcenti Auto-Parts Stock Ltd Co up by 10.01 percent. ** The largest percentage losses in the Shanghai index were Aurora Optoelectronics Co Ltd, which fell 10.03 percent, followed by Zhejiang ChiMin Pharmaceutical Co Ltd , which lost 9.96 percent and Dahu Aquaculture Co Ltd down by 6.22 percent. ** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 6.65 percent, followed by New China Life Insurance Co Ltd gaining 3.25 percent and CNOOC Ltd up by 2.91 percent. ** The three biggest H-shares percentage decliners were ZhongAn Online P&C Insurance Co Ltd, which dropped 3.28 percent, Huaneng Power International Inc, which lost 0.9 percent and Guangzhou Automobile Group Co Ltd, which dipped 0.4 percent. ** About 7.80 billion shares have traded so far on the Shanghai exchange, roughly 49.9 percent of the market’s 30-day moving average of 15.63 billion shares a day. The volume traded was 11.87 billion, as of the last full trading day. ** As of 0430 GMT, China’s A-shares were trading at a premium of 23.09 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.

Reporting by Samuel Shen and John Ruwitch, Editing by Sherry Jacob-Phillips

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below