China stocks rise as commodities shine; Hong Kong snaps winning streak

Sunny Optical Technology Co

11/04/2024 06:17

By Summer Zhen
       HONG KONG, April 11 (Reuters) - China shares rose on
Thursday as strong performances in copper and gold miners offset
the drag from weak consumer data, while Hong Kong stocks tracked
overnight losses in Wall Street.
    ** At the midday break, the Shanghai Composite index  .SSEC 
was up 0.4% at 3,038.58 points. 
    ** China released worse-than-expected March consumer data on
Thursday, maintaining pressure on policymakers to launch more
stimulus as demand remains weak. 
    ** Yet a rally in global commodities has lifted the CSI Coal
Index  .CSI000820  and the A-share Resources Index  .CSI000805 
by 2% and 1.7%, respectively. 
    ** Hong Kong stocks snapped a three-day winning streak as
U.S. sticky inflation numbers diminished rate-cut hopes and
dragged down U.S. shares overnight. 
    ** China's blue-chip CSI300 index  .CSI300  was flat, with
its financial sector sub-index  .CSI300FS  losing 0.23%, the
consumer staples sector  .CSI000912  down 0.86%, the real estate
index  .CSI000952  dropped nearly 1% and the healthcare
sub-index  .CSI300HC  slipped 1.04%.
    ** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.7% to
5,974.63, while the Hang Seng Index  .HSI  was down 0.76% at 
17,009.49. 
    ** The smaller Shenzhen index  .SZSC  was up 0.3%, the
start-up board ChiNext Composite index  .CNT  was weaker by
0.37% and Shanghai's tech-focused STAR50 index  .STAR50  was up
0.61%​.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.53% while Japan's Nikkei index
 .N225  was down 0.54%.
    ** The yuan  CNY=CFXS  was quoted at 7.2361 per U.S. dollar,
0.02% weaker than the previous close of 7.2345. 
    ** The largest percentage gainers in the main Shanghai
Composite index were Xiamen XGMA Machinery Co Ltd  600815.SS ,
up 10.12%, followed by Shaanxi Construction Machinery Co Ltd
 600984.SS , gaining 10.06% and Xinjiang Baodi Mining Co Ltd
 601121.SS , up by 10.05%.
    ** The largest percentage losses in the Shanghai index were
Sanxiang Advanced Materials Co Ltd  603663.SS , down 10.018%,
followed by Dali Pharmaceutical Co Ltd  603963.SS , losing
9.974% and SEC Electric Machinery Co Ltd  603988.SS , down by
9.974%.
    ** In Hong Kong, the sub-index of the Hang Seng index
tracking energy shares  .HSCIE  rose 1.3%, while the IT sector
 .HSCIIT  fell 0.6%. 
 

 (Reporting by Summer Zhen; Editing by Sherry Jacob-Phillips)
 ((summer.zhen@thomsonreuters.com; 852-3462-7739;))