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China stocks end higher as report of regulator meeting lifts sentiment

Mon 20th August, 2018 8:45am
SHANGHAI, Aug 20 (Reuters) - Shanghai stocks recovered from
a 2-1/2-year low to close higher on Monday after a report that
China's securities regulators summoned brokerage analysts for
views on the market improved investor sentiment.
    
** The Shanghai Composite index  .SSEC  ended up 29.50 points or
1.1 percent at 2,668.97. Earlier in the trade, the index fell up
to 0.6 percent to 2653.1119, the lowest since Feb. 26, 2016.
    
** The China Securities Regulatory Commission (CSRC) held a
closed-door meeting with some brokerage economists and
strategists on Monday to hear their views on the market, the
Official China Securities Journal reported. Although the CSRC
did not provide any policy guidance, the regulators' meeting
helped improve market sentiment.  
    
** Reports that China and the United States will hold
lower-level trade talks this month offered hope that both
nations might resolve an escalating trade tariff war.
    
   
** The blue-chip CSI300 index ended 1.17 percent higher, with
its financial sector sub-index  .CSI300FS  closing 1.76 percent
up, the consumer staples sector ended up 1.24 percent, the real
estate index closed 1.99 percent firmer and healthcare sub-index
closed down 1.95 percent.
 
** The smaller Shenzhen index  .SZSC  ended up 0.6 percent and
the start-up board ChiNext Composite index  .CHINEXTP  closed
0.1 percent firmer.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  closed 0.8 percent firmer, while Japan's Nikkei
index  .N225  closed down 0.32 percent.
 
** At 0711 GMT, the yuan  CNY=CFXS  was quoted at 6.8538 per
U.S. dollar, 0.47 percent firmer than previous close of 6.8865. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Shaanxi Baoguang Vacuum Electronic Apparatus Co Ltd
 600379.SS , which ended up 10.06 percent, followed by China
Sports Industry Group Co Ltd  600158.SS , which closed 10.04
percent firmer and Shanghai Shibei Hi-Tech Co Ltd  600604.SS ,
which ended 10.04 percent higher.
 
** The largest percentage losses in the Shanghai index were
Beihai Gofar Marine Biological Industry Co Ltd  600538.SS ,
which ended 10.05 percent down, followed by Gansu Gangtai
Holding Group Co Ltd  600687.SS , which closed 10.01 percent
down and Hylink Digital Solution Co Ltd  603825.SS ,w hich
closed 10.01 percent weaker.
 
** As of 0712 GMT, China's A-shares were trading at a premium of
17.32 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 Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((samuel.shen@tr.com))
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