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Latest Share Chat

China, Hong Kong stocks firm on trade hopes

Fri, 23rd Aug 2019 05:29

* SSEC 0.5%, CSI300 0.7%, HSI 0.5%

* FTSE China A50 +1.1%

* HK->Shanghai Connect daily quota used 0.2%

* Shanghai->HK daily quota used 2.6%

SHANGHAI, Aug 23 (Reuters) - China and Hong Kong stocks roseon Friday, bolstered by hopes for potential progress inSino-U.S. trade negotiations as the United States still plansin-person talks next month.

** The CSI300 index rose 0.7% to 3,819.60 at theend of the morning session, while the Shanghai Composite Indexgained 0.5% to 2,897.14.

** The Hang Seng index added 0.5% to 26,173.59, whilethe Hong Kong China Enterprises Index gained 0.6% to10,185.45.

** The Trump administration is still planning for a round ofin-person talks between U.S. and Chinese officials in Septemberafter a constructive exchange this week between deputy-levelnegotiators, White House economic adviser Larry Kudlow said onThursday.

** That came after China said it hopes the United Stateswill stop its wrong tariff action, adding that any new tariffswould lead to escalation.

** Healthcare firms led the gains on the mainland, with theCSI300 healthcare index rising 3.5%.

** By the lunch break, market bellwether Jiangsu HengruiMedicine surged 6.8% to a record high.

** Around the region, MSCI's Asia ex-Japan stock indexwas firmer by 0.09%, while Japan's Nikkei indexwas up 0.31%.

** The yuan was quoted at 7.0938 per dollar,0.15% weaker than the previous close of 7.083.

** The largest percentage gainers in the main ShanghaiComposite index were Henan Yinge Industrial Investment Co Ltd, up 10.07%, followed by Zhejiang CFMoto Power Co Ltd, gaining 10.03% and Flat Glass Group Co Ltd, up by 10.01%.

** The largest percentage losers in the Shanghai index wereHenan Thinker Automatic Equipment Co Ltd, down7.14%, followed by Sanan Optoelectronics Co Ltd,losing 6.78% and Shanghai Feilo Acoustics Co Ltd,down by 5.88%.

** The top gainers among H-shares were ENN Energy HoldingsLtd, up 5.14%, followed by China Life Insurance Co Ltd, gaining 3.97% and CSPC Pharmaceutical Group Ltd, up by 3.03%.

** The three biggest H-shares percentage decliners were BydCo Ltd, which has fallen 2.85%, Country GardenHoldings Co Ltd, which has lost 2.5% and ShenzhouInternational Group Holdings Ltd, down by 2.3%.

** As of 0416 GMT, China's A-shares were trading at apremium of 29.61% over the Hong Kong-listed H-shares.

(Reporting by Luoyan Liu and John Ruwitch; editing by GopakumarWarrier)

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