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China, Hong Kong stocks firm with yuan; investors await Sino-U.S. talks

Mon 20th August, 2018 5:48am
* SSEC +0.1 pct, CSI300 +0.2 pct, HSI +0.9 pct * HK->Shanghai Connect daily quota used 4.7 pct, Shanghai->HK * daily quota used -0.6 pct * FTSE China A50 +0.8 pct, BNY Mellon ADR China Select Index +0.3 pct SHANGHAI, Aug 20 (Reuters) - China and Hong Kong stocks firmed on Monday, tracking other Asian markets, as investors awaited developments on planned Sino-U.S. trade talks and the Chinese yuan moved away from recent lows. ** The CSI300 index .CSI300 was up 0.2 percent at 3,236.16 at the end of the morning session, while the Shanghai Composite Index .SSEC gained 0.1 percent to 2,671.93. ** The Hang Seng index .HSI added 0.9 percent to 27,457.66, while the Hong Kong China Enterprises Index .HSCE gained 0.8 percent to 10,594.28. ** The yuan reached its highest in a week at 6.8512 per dollar CNY=CFXS as Beijing acted to prevent a test of the psychologically important 7.0000 level. ** Investors also cheered news that China and the United States will hold lower-level trade talks this month, offering hope that they might resolve an escalating tariff war. ** Reports suggested the talks in Washington would take place on Aug. 21 and 22, just before $16 billion in new U.S. tariffs on Chinese goods take effect. urn:newsml:reuters.com:*:nL4N1V71F9 ** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.68 percent, while Japan's Nikkei index .N225 was down 0.23 percent. ** The yuan CNY=CFXS was quoted at 6.8478 per U.S. dollar, 0.56 percent firmer than the previous close of 6.8865. ** The largest percentage gainers on the main Shanghai Composite index were China Sports Industry Group Co Ltd 600158.SS , up 10.04 percent, followed by Shanghai Shibei Hi-Tech Co Ltd 600604.SS , gaining 10.04 percent, and Yibin Paper Industry Co Ltd 600793.SS , up by 10.02 percent. ** The largest percentage losers on the Shanghai index were Gansu Gangtai Holding Group Co Ltd 600687.SS , down 10.01 percent, followed by Hylink Digital Solution Co Ltd 603825.SS , losing 10.01 percent, and Sichuan Swellfun Co Ltd 600779.SS , down by 10.01 percent. ** The top gainers among H-shares were Air China Ltd 0753.HK , up 4.51 percent, followed by Byd Co Ltd 1211.HK , gaining 4.38 percent, and Anhui Conch Cement Co Ltd 0914.HK , up by 4.08 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd 1658.HK , which has fallen 3.13 percent, CRRC Corp Ltd 1766.HK , which has lost 3.1 percent, and PICC Property and Casualty Co Ltd 2328.HK , down by 2.1 percent. ** About 6.22 billion shares have traded so far on the Shanghai exchange, roughly 45.3 percent of the market's 30-day moving average of 13.73 billion shares a day. ** As of 04:27 GMT, China's A-shares were trading at a premium of 17.25 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. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ China stock market graphics suite http://reut.rs/1NfkoGl ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Luoyan Liu and John Ruwitch; Editing by Subhranshu Sahu) ((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))
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