China stocks firm as fresh stimulus hopes lift risk appetite

Shenzhou International group

01/04/2020 05:42

* SSEC 0.3%, CSI300 0.7%, HSI -0.9%
    * HK->Shanghai Connect daily quota used 2.3%, Shanghai->HK
daily
quota used 3.6%
    * FTSE China A50 +0.7%

    SHANGHAI/Hong Kong, April 1 (Reuters) - China stocks on
Wednesday started the second quarter of the year on a firm note,
as investors expected more stimulus measures to counter the
economic impact from the coronavirus pandemic. 
    ** At the midday break, the Shanghai Composite index  .SSEC 
was up 0.3% at 2,758.66 points. 
    ** China's blue-chip CSI300 index  .CSI300  rose 0.69%, with
its financial sector sub-index  .CSI300FS  higher by 0.88%, the
consumer staples sector  .CSI000912  down 0.11%, the real estate
index  .CSI000952  climbed 1.92% and the healthcare sub-index
 .CSI300HC  down 0.69%.
    ** Chinese H-shares listed in Hong Kong  .HSCE  dipped 0.29%
to 9,567.19, while the Hang Seng Index  .HSI  was down 0.92% at
23,385.41. 
    ** China will step up fiscal and monetary policy adjustments
to combat the impact of the global coronavirus outbreak, state
media reported on Tuesday, quoting a cabinet meeting chaired by
Premier Li Keqiang.  urn:newsml:reuters.com:*:nB9N2BC00R 
    ** Fresh measures by Beijing on infrastructure funding,
targeted credit for SMEs, and EV subsidies echoed the view that
the Politburo meeting on Friday has given a green light to more
policy responses, both fiscal firepower and monetary policy
tools, analysts at Morgan Stanley said in a report.
    ** China's factory activity improved in March after plunging
a month earlier, a private survey showed on Wednesday, but the
bare minimal growth highlighted the intense pressure facing
businesses as the global coronavirus pandemic shuts down many
countries.  urn:newsml:reuters.com:*:nZUN0008I5 
    ** China will start releasing information from Wednesday on
coronavirus patients who show no-disease symptoms, ordering them
into quarantine for 14 days, a health official said, after the
mainland witnessed its first rise in infections in five days. 
 urn:newsml:reuters.com:*:nL4N2BO07O 
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.06%, while Japan's Nikkei index
 .N225  was down 1.75%.
    ** The yuan  CNY=CFXS  was quoted at 7.0886 per U.S. dollar,
0.11% weaker than the previous close of 7.081. 
    ** As of 0414 GMT, China's A-shares were trading at a
premium of 26.18% over the Hong Kong-listed H-shares.

 (Reporting by Luoyan Liu and Noah Sin, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))