HK stocks rally on easing US rate fears; China inches up despite Anbang jolt

Zhuzhou CRRC Times Electric

23/02/2018 04:41

* SSEC 0.1 pct, CSI300 0.1 pct, HSI 0.8 pct 
    * HK->Shanghai Connect daily quota used 6.5 pct, 
Shanghai->HK 
daily quota used 7.4 pct 
    * FTSE China A50 +0.2 pct, BNY Mellon ADR China Select Index 
+0.4 
pct 
 
    SHANGHAI, Feb 23 (Reuters) - Hong Kong stocks rallied across 
the board on Friday morning, tracking gains in other Asian 
markets as comments from a Federal Reserve official eased 
worries about faster U.S. rate hikes. 
    Shares in listed firms in which Anbang Insurance Group 
 ANBANG.UL  holds stakes were mixed by the lunch break, as China 
seizes control of the acquisitive financial conglomerate, in a 
dramatic move that underscores Beijing's intent to crackdown on 
financial risk. Some Anbang-related stocks rose because the 
state takeover would rule out the possibility of a fire sale of 
assets, traders said.  urn:newsml:reuters.com:*:nL4N1QD1C7  urn:newsml:reuters.com:*:nL4N1QD1C7 
     
** At 04:01 GMT, the Shanghai Composite index  .SSEC  was up 
3.09 points, or 0.09 percent, at 3,271.65. 
  
** China's blue-chip CSI300 index  .CSI300  was up 0.05 percent, 
with its financial sector sub-index  .CSI300FS  higher by 0.49 
percent, the consumer staples sector down 0.51 percent, the real 
estate index up 1.49 percent and healthcare sub-index up 0.01 
percent. 
  
** Chinese H-shares listed in Hong Kong  .HSCE  rose 1.35 
percent at 12,697.78, while the Hang Seng Index  .HSI  was up 
0.84 percent at 31,226.61. 
  
** The smaller Shenzhen index  .SZSC  was down 0.21 percent and 
the start-up board ChiNext Composite index  .CHINEXTP  was 
weaker by 0.84 percent. 
  
** Around the region, MSCI's Asia ex-Japan stock index 
 .MIAPJ0000PUS  was firmer by 0.87 percent while Japan's Nikkei 
index  .N225  was up 0.52 percent. 
  
** The yuan  CNY=CFXS  was quoted at 6.34 per U.S. dollar, 0.26 
percent firmer than the previous close of 6.3565.  
  
** The largest percentage gainers in the main Shanghai Composite 
index were Shanghai Prosolar Resources Development Co Ltd 
 600193.SS  up 10.11 percent, followed by Datang Telecom 
Technology Co Ltd  600198.SS  gaining 10.01 percent and KPC 
Pharmaceuticals Inc  600422.SS  up by 9.98 percent. 
  
** The largest percentage losses in the Shanghai index were 
Henan Ancai Hi-tech Co Ltd  600207.SS  down 4.38 percent, 
followed by Wuhan DDMC Culture Co Ltd  600136.SS  losing 3.74 
percent and Hna Innovation Co Ltd  600555.SS  down by 3.57 
percent. 
  
** So far this year, the Shanghai stock index is down 1.17 
percent, while China's H-share index is up 7.0 percent. Shanghai 
stocks have declined 6.1 percent this month.  
  
** The top gainers among H-shares were China Minsheng Banking 
Corp Ltd  1988.HK  up 2.77 percent, followed by China Pacific 
Insurance Group Co Ltd  2601.HK  gaining 2.36 percent and 
Zhuzhou CRRC Times Electric Co Ltd  3898.HK  up by 2.27 percent. 
  
** The three biggest H-shares percentage decliners were Byd Co 
Ltd  1211.HK  which has fallen 0.27 percent, SINOPHARM GROUP CO 
LTD  1099.HK  which has lost 0.1 percent and China Telecom Corp 
Ltd  0728.HK  down by 0.3 percent. 
  
** About 8.72 billion shares have traded so far on the Shanghai 
exchange, roughly 40.9 percent of the market's 30-day moving 
average of 21.35 billion shares a day. The volume traded was 
13.87 billion as of the last full trading day. 
  
** As of 04:02 GMT, China's A-shares were trading at a premium 
of 26.89 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 15.01 
as of the last full trading day while the dividend yield was 1.9 
percent. 
  
** So far this week, the market capitalisation of the Shanghai 
stock index has risen by 2.22 percent to 28.98 trillion yuan. 
  
** In Hong Kong, the sub-index of the Hang Seng index  .HSI  
tracking energy shares  .HSCIE  rose 1.2 percent while the IT 
sector  .HSCIIT  rose 0.9 percent. The top gainer on Hang Seng 
was Country Garden Holdings Co Ltd  2007.HK  up 3.81 percent, 
while the biggest loser was Hengan International Group Company 
Ltd  1044.HK  which was down 1.38 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 
Gopakumar Warrier) 
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters 
Messaging: samuel.shen.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA STOCKS/MIDDAY