China, HK stocks rise as Sino-U.S. trade talks to resume

Zhuzhou CRRC Times Electric

08/05/2018 05:39

* SSEC 0.9 pct, CSI300 1.3 pct, HSI 1.2 pct
    * HK->Shanghai Connect daily quota used 2.5 pct,
Shanghai->HK
daily quota used 2.7 pct
    * China trade talks to resume in Washington next week
    * 
    * 

    SHANGHAI, May 8 (Reuters) - China stocks rose sharply on
Tuesday as reports that Sino-U.S. talks would resume eased
worries of a trade war, while investors bought blue-chips ahead
of MSCI's A-share inclusion on June 1. Hong Kong stocks also
edged higher.
    
** The CSI300 index  .CSI300  was up 1.3 percent at 3,883.67
points at the end of the morning session, while the Shanghai
Composite Index  .SSEC  gained 0.9 percent to 3,165.08 points. 

** The Hang Seng index  .HSI  added 1.2 percent to 30,345.95
points, while the Hong Kong China Enterprises Index  .HSCE 
gained 1.6 percent to 12,154.77.
 
** Investors cheered on news that China's top economic official
Liu He will visit Washington next week to resume trade talks
with the Trump administration, easing fears of a trade war.
Discussions in Beijing last week failed to produce agreement on
a long list of U.S. trade demands.  urn:newsml:reuters.com:*:nL1N1SE1DC
    
** Investors in China also expect that MSCI's China inclusion on
June 1 will bring in a wave of foreign money inflows into the
country's blue-chips.
 
** The smaller Shenzhen index  .SZSC  was up 0.67 percent and
the start-up board ChiNext Composite index  .CHINEXTP  was
higher by 0.08 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.50 percent, while Japan's Nikkei
index  .N225  was up 0.28 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.3659 per U.S. dollar,
0.07 percent weaker than the previous close of 6.3617. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Beijing Aerospace Changfeng Co Ltd  600855.SS , which
gained 10.03 percent, followed by Kunshan Kersen Science &
Technology Co Ltd  603626.SS , which climbed 10.03 percent and
Qingdao Tianhua Institute of Chemistry Engineering Co Ltd
 600579.SS  up by 10.03 percent.
 
** The largest percentage losses in the Shanghai index were
Aurora Optoelectronics Co Ltd  600666.SS , which lost 10.01
percent, followed by Jiangsu Lugang Culture Co Ltd  601599.SS ,
which slipped 8.37 percent and Guangdong Ellington Electronics
Technology Co Ltd  603328.SS  down by 6.43 percent.
 
** The top gainers among H-shares were New China Life Insurance
Co Ltd  1336.HK , which gained 5.75 percent, followed by China
Pacific Insurance Group Co Ltd  2601.HK , which climbed 5.5
percent and PICC Property and Casualty Co Ltd  2328.HK  that
rose 3.71 percent.
 
** The three biggest H-shares percentage decliners were Zhuzhou
CRRC Times Electric Co Ltd  3898.HK , which fell 2.05 percent,
CNOOC Ltd  0883.HK , which lost 1.9 percent and Air China Ltd
 0753.HK  down by 0.6 percent.
 
** About 8.25 billion shares have traded so far on the Shanghai
exchange, roughly 52.8 percent of the market's 30-day moving
average of 15.63 billion shares a day. The volume traded was
13.89 billion, as of the last full trading day.
 
** As of 0424 GMT, China's A-shares were trading at a
premium of 23.58 percent over the Hong Kong-listed H-shares.
 
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.
 
** The price-to-earnings ratio of the Shanghai index was 13.47
as of the last full trading day while the dividend yield was 2.3
percent.

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China stock market graphics suite     http://reut.rs/1NfkoGl
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 (Reporting by Samuel Shen and John Ruwitch, Editing by Sherry
Jacob-Phillips)
 ((samuel.shen@tr.com))