April 9, 2018 / 4:37 AM / a year ago

China, Hong Kong stocks climb as investors await developments in trade spat

* SSEC up 0.4 pct, CSI300 up 0.3 pct, HIS up 1.8 pct

* HK->Shanghai Connect daily quota used 12 pct

* FTSE China A50 +0.3 pct

* BNY Mellon ADR China Select Index -1.8 pct

SHANGHAI, April 9 (Reuters) - China and Hong Kong stocks rallied on Monday as investors awaited fresh developments in the simmering trade spat between the U.S. and China, and as a bounce in U.S. stock futures soothed sentiment. ** At 04:12 GMT, the Shanghai Composite index was up 0.37 percent at 3,142.58, while China’s blue-chip CSI300 index was up 0.28 percent at 3,865.50. ** Chinese H-shares listed in Hong Kong rose 1.54 percent at 12,151.63, while the Hang Seng Index was up 1.76 percent at 30,371.02. ** The smaller Shenzhen index was up 0.27 percent and the start-up board ChiNext Composite index was higher by 1.02 percent. ** U.S. President Donald Trump predicted on Sunday that China would take down its trade barriers, expressing optimism despite escalating trade tensions between the world’s two largest economies that have roiled global markets in the past week. ** For now, investors in Asia were encouraged that E-Mini futures for the S&P 500 were still up 0.7 percent, while NASDAQ futures rose 0.9 percent. ** “The impact from China-U.S. trade tensions on the Hong Kong stock market will decrease marginally for the short term,” Zhang Yidong, an analyst with Industrial Securities, wrote in a report. ** Zhang’s view was echoed by Jonas Short from Everbright Sun Hung Kai, who said a negotiated settlement to U.S.-China trade disputes still looks like the most likely outcome. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.90 percent while Japan’s Nikkei index was up 0.56 percent. ** The yuan was quoted at 6.2962 per U.S. dollar, 0.1 percent firmer than the previous close of 6.3027. ** The largest percentage gainers in the main Shanghai Composite index were Xinjiang Sayram Modern Agriculture Co Ltd up 10.1 percent, followed by BGRIMM Technology Co Ltd and Beijing Jingcheng Machinery Electric Co Ltd up 10.03 percent each. ** The largest percentage losses in the Shanghai index were Taiyuan Lionhead Cement Co Ltd down 9.96 percent, followed by Wintime Energy Co Ltd losing 9.93 percent and Xinjiang Bai Hua Cun Co Ltd down by 5.95 percent. ** The top gainers among H-shares were Byd Co Ltd up 4.13 percent, followed by CITIC Ltd gaining 3.68 percent and CITIC Securities Co Ltd up 3.25 percent. ** The biggest H-shares percentage decliners were CGN Power Co Ltd which fell 0.48 percent and China Vanke Co Ltd which lost 0.3 percent. ** About 8.22 billion shares have been traded so far on the Shanghai exchange, roughly 49.5 percent of the market’s 30-day moving average of 16.60 billion shares a day. ** As of 04:12 GMT, China’s A-shares were trading at a premium of 23.39 percent over the Hong Kong-listed H-shares. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 1.2 percent while the IT sector rose 1.9 percent. The top gainer on Hang Seng was Sunny Optical Technology Group Co Ltd up 6.01 percent, while the biggest loser was CK Infrastructure Holdings Ltd which was down 0.24 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair

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