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2007 - Country Garden Holdings Co News Story

HK$11.14 0.1  1.3%

Last Trade - 8:08am

Sector
Financials
Size
Large Cap
Market Cap £23.43bn
Enterprise Value £41.27bn
Revenue £48.63bn
Position in Universe 50th / 5943

China stocks jump on upbeat data; Hong Kong inches up

Tue 27th August, 2019 5:49am
* SSEC 1.7%, CSI300 1.8%, HSI 0.1% * Trump says China trade deal coming, Beijing calls for resolution of dispute * China's July industrial profits swing to growth but outlook clouded SHANGHAI, Aug 27 (Reuters) - China stocks rallied on Tuesday, bolstered by upbeat industrial profits in July, while possible easing in Sino-U.S. trade tension also aided sentiment. ** The CSI300 index .CSI300 rose 1.8% to 3,834.99 during the morning session, while the Shanghai Composite Index .SSEC gained 1.7% to 2,911.62. ** U.S. President Donald Trump on Monday predicted a trade deal with China after positive gestures by Beijing, calming global markets that have been roiled by new tariffs from the world's two largest economies. urn:newsml:reuters.com:*:nL3N25M235 ** Trump said after a G7 summit of world leaders in Biarritz, France, that he believed China was sincere about wanting to reach a deal, citing what he described as increasing economic pressure on Beijing and job losses there. ** Chinese Vice Premier Liu He, who has been leading the talks with Washington, said on Monday China was willing to resolve the trade dispute through "calm" negotiations and opposed any increase in trade tensions. ** Profits at China's industrial firms returned to growth in July helped by improvements in the petrochemical and auto sectors but a broader economic slowdown and the protracted U.S. trade war are expected to weigh on the business outlook. urn:newsml:reuters.com:*:nL3N25N0IZ ** Investors shall be patient in waiting for further policy support from Beijing with loose monetary policy expected in the second half, Dongxing Securities noted in report, adding there is limited room for the U.S. to further escalate the trade war with China as it faces increased pressure at home. ** The expected inclusion factor of MSCI also helped drive A-share market higher, with net northbound inflows via the Stock Connect linking Hong Kong and mainland reaching 6.4 billion yuan ($902.32 million). ** MSCI is set to raise the inclusion factor for A-shares to 15% from 10% after close on Aug. 27, driving passive net inflow of about $4.5 billion into A-shares, while the pace of active inflow could vary based on domestic and global market changes and numerous macro events such as U.S.-China trade negotiations, UBS analysts wrote in note. ** In Hong Kong, stocks edged up, though gains were pretty much curbed amid worries over the protests. ** The Hang Seng index .HSI added 0.1% to 25,707.14, while the Hong Kong China Enterprises Index .HSCE gained 0.3%, to 10,039.30. ** Hong Kong leader Carrie Lam said on Tuesday the escalation of violence in anti-government protests that have rocked the Asian financial centre for three months is becoming more serious. urn:newsml:reuters.com:*:nL3N25N0LN ** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.42% while Japan's Nikkei index .N225 was up 1.15%. ** The yuan CNY=CFXS was quoted at 7.1603 per U.S. dollar, 0.12% weaker than the previous close of 7.152. ** The largest percentage gainers on the main Shanghai Composite index were Lifan Industry Group Co Ltd 601777.SS , up 10.06%, followed by North China Pharmaceutical Co Ltd 600812.SS , gaining 10.06% and Shanghai Shenqi Pharmaceutical Investment Management Co Ltd 600613.SS , up by 10.03%. ** The largest percentage losers on the Shanghai index were Jiangsu Xinri E-Vehicle Co Ltd 603787.SS , down 7.44%, followed by Beijing Xinwei Technology Group Co Ltd 600485.SS , losing 4.95% and Ling Yun Industrial Corp Ltd 600480.SS , down by 3.4%. ** The top gainers among H-shares were ANTA Sports Products Ltd 2020.HK , up 7.1%, followed by Country Garden Holdings Co Ltd 2007.HK , gaining 4.62% and China Railway Group Ltd 0390.HK , up by 3.05%. ** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd 2313.HK , which has fallen 2.82%, Hengan International Group Company Ltd 1044.HK , which has lost 2.6% and PICC Property and Casualty Co Ltd 2328.HK , down by 2.0%. ** As of 04:15 GMT, China's A-shares were trading at a premium of 29.90% over the Hong Kong-listed H-shares. ($1 = 7.0928 Chinese yuan) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ China stock market graphics suite http://reut.rs/1NfkoGl ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Luoyan Liu and John Ruwitch; editing by Uttaresh.V) ((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))
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