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The Financial Express

China, Hong Kong stocks rise as trade tensions ease

| Updated: May 15, 2018 11:20:33


File Photo (Collected) File Photo (Collected)

China and Hong Kong stocks rose on Monday on signs that the US and China were toning down their trade war rhetoric.

The CSI300 index rose 1.1 per cent to 3,916.07 at the end of the morning session, while the Shanghai Composite Index gained 0.6 per cent to 3,180.80.

The Hang Seng index added 1.3 per cent to 31,521.82, while the Hong Kong China Enterprises Index gained 1.5 per cent to 12,524.95, reports Reuters.

China’s CSI300 financial sector sub-index was higher by 1.27 per cent, the consumer staples sector up 2.2 per cent, the real estate index up 0.64 per cent and the healthcare sub-index up 0.08 per cent.

The smaller Shenzhen index was up 0.2 per cent, while the start-up board ChiNext Composite index was unchanged.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.54 per cent while Japan’s Nikkei index was up 0.39 per cent.

The yuan was quoted at 6.3389 per US dollar, 0.1 per cent weaker than the previous close of 6.3323.

The largest percentage gainers in the main Shanghai Composite index were Henan Ancai Hi-tech Co Ltd up 10.04 per cent, followed by Changzhou Shenli Electrical Machine Incorporated Co gaining 10.03 per cent and Zhejiang Dibay Electric Co Ltd up by 10.02 per cent.

The largest percentage losses in the Shanghai index were Qingdao Copton Technology Co Ltd down 10.02 per cent, followed by HangZhou Nbond Nonwovens Co Ltd falling 10.01 per cent and Shanghai Wondertek Software Co Ltd down by 10.01 per cent.

The top gainers among H-shares were CITIC Securities Co Ltd up 4.53 per cent, followed by Air China Ltd gaining 4.35 per cent and Guangzhou Automobile Group Co Ltd up by 4.08 per cent.

 The three biggest H-shares percentage decliners were Dongfeng Motor Group Co Ltd which has fallen 0.34 per cent, Sinopharm Group Co Ltd which has lost 0.1 per cent and CGN Power Co Ltd down by 0.0 per cent.

About 7.38 billion shares have traded so far on the Shanghai exchange, roughly 49.8 per cent of the market’s 30-day moving average of 14.81 billion shares.

The volume traded was 13.07 billion as of the last full trading day.

As of 04:11 GMT, China’s A-shares were trading at a premium of 21.65 per cent over the Hong Kong-listed H-shares.

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