China stocks rise as banks, healthcare firms lend support; Hong Kong up

Shenzhou International group

05/02/2021 05:18

* SSEC 0.5%, CSI300 0.9%, HSI 0.5%
    * HK->Shanghai Connect daily quota used 4.1%, Shanghai->HK
daily
quota used 6.3%
    * FTSE China A50 +1.9%

    SHANGHAI, Feb 5 (Reuters) - China stocks gained on Friday,
on track to post weekly gains, as investors found support from a
continued economic recovery, though Sino-U.S. tensions remained
a worry. 
    ** The CSI300 index  .CSI300  rose 0.9%, to 5,522.21 points
at the end of the morning session, while the Shanghai Composite
Index  .SSEC  gained 0.5%, to 3,518.09 points.  
    ** For the week, CSI300 firmed 3.2%, while SSEC added 1%. 
    ** Leading the gains on Friday, the CSI300 banking index
 .CSI000951  and CSI300 healthcare index  .CSI300HC  rose 2% and
4%, respectively. 
    ** Investors continued to trade the economic recovery story,
while ample funds still favoured leading blue-chips that were
seen as "core assets" in the A-share market and Hong Kong,
analysts at Dongxing Securities said in a report.  
    ** Data over the weekend showed China's factory activity
grew in January, in line with an ongoing economic recovery, but
at the slowest pace in five months after new coronavirus
infections prompted lockdowns.  urn:newsml:reuters.com:*:nL1N2K602M 
    ** Worries over Sino-U.S. tensions kept gains in check. 
    ** The United States is deliberately "creating tension" and
disrupting peace and stability, China's military said, after a
U.S. warship sailed through the sensitive Taiwan Strait.
 urn:newsml:reuters.com:*:nL1N2KA3HB 
    ** Bucking the broad rally, small-cap stocks continued to
slide, as institutional investors favoured big companies.
 urn:newsml:reuters.com:*:nL4N2KA1NH 
    ** The CSI1000 index  .CSI1000I , slipped 0.9% on Friday to
a near eight-month low, bringing its losses for the year to more
than 8%. 
    ** In Hong Kong, the Hang Seng index  .HSI  added 0.5%, to
29,265.95 points, while the Hong Kong China Enterprises Index
 .HSCE  gained 0.2%, to 11,582.40. 
    ** Shares in online video platform Kuaishou Technology
 1024.HK  tripled on their Hong Kong stock market debut on
Friday, driven by massive demand from mom-and-pop investors amid
a global retail trading frenzy.  urn:newsml:reuters.com:*:nL1N2KB04V   

 (Reporting by Luoyan Liu and Andrew Galbraith; Editing by
Krishna Chandra Eluri)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))