China stocks climb on stimulus hopes for smaller firms; Hong Kong closes lower

Want Want China Holdings

24/12/2019 04:33

* SSEC +0.3%, CSI300 +0.3%, HSI -0.2%
    * FTSE China A50 +0.2%
    * China considering more RRR cuts to lower financing costs -
Premier Li

    SHANGHAI, Dec 24 (Reuters) - China stocks inched higher on
Tuesday after Premier Li Keqiang said Beijing would consider
taking more measures to lower financing costs for smaller
companies. 
    ** The CSI300 index  .CSI300  rose by 0.3%, to 3,979.88, at
the end of the morning session, while the Shanghai Composite
Index  .SSEC  gained 0.3%, to 2,970.19. 
    ** Li said the measures included broad-based and "targeted"
cuts in the reserve requirement ratio (RRR), relending and
rediscounting.  urn:newsml:reuters.com:*:nB9N28L00V 
    ** Chinese government bond futures edged up in early trade
after Li's remarks.  urn:newsml:reuters.com:*:nB9N28D043   
    ** In Hong Kong, stocks slipped in the half day Christmas
Eve session. 
    ** The Hang Seng index  .HSI  dropped 0.2%, to 27,864.10,
while the Hong Kong China Enterprises Index  .HSCE  lost 0.1%,
to 11,042.49.
    ** Hong Kong markets will resume trading on Friday, Dec. 27.
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.08%, while Japan's Nikkei index
 .N225  was down 0.05%.
    ** The yuan  CNY=CFXS  was quoted at 7.0104 per U.S. dollar,
0.03% firmer than the previous close of 7.0125. 
    ** As of 04:04 GMT, China's A-shares were trading at a
premium of 25.26% over the Hong Kong-listed H-shares.

 (Reporting by Luoyan Liu and Brenda Goh; Editing by Subhranshu
Sahu)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))