May 14, 2018 / 7:25 AM / a year ago

China stocks rise amid signs of easing trade tensions

SHANGHAI, May 14 (Reuters) - China stocks rose on Monday amid signs of easing trade tensions between Beijing and Washington, while investors awaited MSCI’s final A-share inclusion list.

** The blue-chip CSI300 index rose 0.9 percent, to 3,909.29, while the Shanghai Composite Index rose 0.3 percent to 3,174.03 points.

** U.S. President Donald Trump pledged to help ZTE Corp “get back into business,” potentially reversing earlier sanctions against the Chinese telecom company. ** The CSI300 financial sector sub-index was higher by 0.79 percent, the consumer staples sector up 2.81 percent, the real estate index up 0.09 percent and healthcare sub-index up 0.88 percent. ** The smaller Shenzhen index ended down 0.1 percent and the start-up board ChiNext Composite index was weaker by 0.21 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.48 percent, while Japan’s Nikkei index closed up 0.47 percent. ** At 07:12 GMT, the yuan was quoted at 6.3387 per U.S. dollar, 0.1 percent 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 percent, followed by Changzhou Shenli Electrical Machine Incorporated Co gaining 10.03 percent and Zhejiang Dibay Electric Co Ltd up by 10.02 percent. ** The largest percentage losers in the Shanghai index were Qingdao Copton Technology Co Ltd down 10.02 percent, followed by HangZhou Nbond Nonwovens Co Ltd losing 10.01 percent and Suzhou Xingye Materials Technology Co Ltd down by 10.01 percent. ** So far this year, the Shanghai stock index is down 4 percent, the CSI300 has fallen 3 percent, while China’s H-share index listed in Hong Kong is up 7.1 percent. Shanghai stocks have risen 2.98 percent this month.

** About 12.93 billion shares were traded on the Shanghai exchange, roughly 87.4 percent of the market’s 30-day moving average of 14.81 billion shares a day. The volume in the previous trading session was 13.07 billion shares. ** As of 07:13 GMT, China’s A-shares were trading at a premium of 21.17 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. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)

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