China shares rise driven by consumer, healthcare stocks; Hang Seng slips

China Resources Beer Holdings

28/10/2020 04:44

* SSEC 0.2%, CSI300 0.6%, HSI -0.3%
    * HK->Shanghai Connect daily quota used -1.2%, Shanghai->HK
daily
quota used 6.1%
    * FTSE China A50 +0.5%

    BEIJING/SHANGHAI, Oct 28(Reuters) - China stocks rose on
Wednesday, led by gains in consumer and healthcare companies, as
sentiment was lifted by hopes of a speedy economic recovery from
the COVID-19 pandemic.
 
** At the midday break, the Shanghai Composite index  .SSEC  was
up 0.16% at 3,259.60 points.
 
** The blue-chip CSI300 index  .CSI300  was up 0.55%. The
consumer staples sector  .CSI000912  jumped 2.55% and the
healthcare sub-index  .CSI300HC  gained 0.84%.
 
** The smaller Shenzhen index  .SZSC  was up 0.3%. The start-up
board ChiNext Composite index  .CNT  rose 0.51% and Shanghai's
tech-focused STAR50 index  .STAR50  jumped 1.21%​.
 
** Mainland shares are accumulating momentum this week as
investors are expecting further economic recovery and new
listings of fintech shares such as Alibaba's Ant Group
 688688.SS , said Yang Delong, investment manager at First
Seafront Fund Management Co.
 
** A Reuters poll forecast China's fourth-quarter GDP rising
5.8% year-on-year, up from 4.9% reported in the July-September
period as economic recovery accelerated in the third quarter
after consumers shook off their coronavirus caution. 
 urn:newsml:reuters.com:*:nL4N2HH12I
 
** Hong Kong's aggregate balance, an indicator of Hong Kong
dollar liquidity, will hit an all-time high on Oct. 29 as the
Ant IPO attracts cash into the financial hub. Ant Group is
looking to raise up to $34.4 billion in Hong Kong and
Shanghai. urn:newsml:reuters.com:*:nL1N2HI0WO    
 
** Markets liquidity will be tested by the upcoming blockbuster
Ant IPO and investors are likely to lock in more profits from
blue-chip property and financial shares, said Zhang Qi, analyst
with Haitong Securities Co.
 
** Investors shrugged off news of a resurgence in coronavirus
infections in the northwestern Xinjiang region. China reported
42 new COVID-19 cases on Oct. 27, the highest daily toll in more
than two months.  urn:newsml:reuters.com:*:nL1N2HJ02J
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.35% to
9,968.41, while the Hang Seng Index  .HIS  was down 0.24% at 
24,727.20.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.14%, while Japan's Nikkei index
 .N225  was down 0.31%.
    

 (Reporting by Cheng Leng in Beijing, Luoyan Liu and Andrew
Galbraith in Shanghai; Editing by Amy Caren Daniel)
 ((cheng.leng@thomsonreuters.com; +8610-5669-2129;))