China shares flat amid trade talk optimism; Alibaba climbs nearly 7% in strong HK debut

Xinjiang La Chapelle Fashion Co

26/11/2019 04:44

* SSEC 0.0%, CSI300 +0.1%, HSI -0.1%
    * U.S., China trade negotiators hold phone call
    * MSCI weightage increase seen having little impact -analyst
    * Alibaba's Hong Kong shares up 6.9% in debut

    SHANGHAI, Nov 26 (Reuters) - News of a phone call between
top Chinese and U.S. trade negotiators failed to nudge China
shares higher on Tuesday, while Alibaba made a solid debut in a
quiet Hong Kong market.
 
** At the midday break, the Shanghai Composite index  .SSEC  was
flat at 2,906.08. 
 
** China's blue-chip CSI300 index  .CSI300  was up 0.1%, with
its financial sector sub-index  .CSI300FS  lower by 0.26%, the
consumer staples sector  .CSI000912  up 0.59%, the real estate
index  .CSI000952  down 0.7% and the healthcare sub-index
 .CSI300HC  up 0.52%.
 
** Top trade negotiators from China and the United States held a
phone call on Tuesday morning, China's Commerce Ministry said,
as the two sides try to hammer out a preliminary "phase one"
deal in a trade war that has dragged on for 16 months.
 urn:newsml:reuters.com:*:nL4N2860SB 
 
** "The resumption of trade talks had a muted impact on the
equity market with investors accustomed to the negotiation
process," said Gerry Alfonso, an analyst at Shenwan Hongyuan
Securities.
 
** Earlier this month, global index provider MSCI said it would
increase the weightage of Chinese A-shares in its emerging
markets index to 4.1% from 2.55%, effective at the market open
on Nov. 27.  urn:newsml:reuters.com:*:nL2N27N26V
 
** Alfonso said the rebalancing had a relatively small impact on
the market on Tuesday.
 
** Chinese H-shares listed in Hong Kong  .HSCE  rose 0.05% to
10,635.37, while the Hang Seng Index  .HSI  was down 0.08% to
26,970.34. 
 
** The focus in Hong Kong was on the debut of Alibaba Group's
 BABA.N  9988.HK  Hong Kong shares. At the midday break, these
shares were trading at HK$188.10, up 6.9% from the issue price
of HK$176.  urn:newsml:reuters.com:*:nL4N2860JF
 
** The smaller Shenzhen index  .SZSC  was up 0.08% and the
start-up board ChiNext Composite index  .CNT  was higher by
0.39%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.31%, while Japan's Nikkei index
 .N225  was up 0.33%.
 
** The yuan  CNY=CFXS  was quoted at 7.03 per U.S. dollar, 0.08%
firmer than the previous close of 7.0355. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Sichuan Golden Summit Group Joint Stock Co Ltd
 600678.SS , up 10.08%, followed by Shanghai La Chapelle Fashion
Co Ltd  603157.SS , gaining 10.06%, and Veken Technology Co Ltd
 600152.SS , up by 10.02%.
 
** The largest percentage losers in the Shanghai index were
Beijing Cuiwei Tower Co Ltd  603123.SS , down 10.02%, followed
by Vohringer Home Technology Co Ltd  603226.SS , losing 10%, and
Beijing Qianjing Landscape Co Ltd  603778.SS , down by 8.89%.
 
** The top gainers among H-shares were Geely Automobile Holdings
Ltd  0175.HK , up 1.96%, followed by Want Want China Holdings
Ltd  0151.HK , gaining 1.66%, and ANTA Sports Products Ltd
 2020.HK , up by 1.41%.
 
** The three biggest H-shares percentage decliners were China
Gas Holdings Ltd  0384.HK , down 3.31%, China Resources Beer
Holdings Co Ltd  0291.HK , which fell 2.49% and China Resources
Land Ltd  1109.HK , which is 1.71% lower.
 
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  rose 0.3%, while the IT sector  .HSCIIT 
fell 0.1%. The top gainer on the Hang Seng was Sunny Optical
Technology Group Co Ltd  2382.HK , up 2.55%, while the biggest
loser was AAC Technologies Holdings Inc  2018.HK , which was
down 2.84%.

 (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)
 ((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))