July 13, 2018 / 4:24 AM / 4 months ago

China, Hong Kong stocks edge higher after trade data

* SSEC -0.1 pct, CSI300 0.5 pct, HSI 0.6 pct

* HK->Shanghai Connect daily quota used 0.7 pct, Shanghai->HK daily quota used 0.6 pct

* FTSE China A50 +0.3 pct, BNY Mellon ADR China Select Index +2.1 pct

SHANGHAI, July 13 (Reuters) - China stocks edged higher on Friday as investors digested the country’s June trade data even as global trade war worries continued to keep sentiment subdued. ** The CSI300 index rose 0.5 percent, to 3,498.21 points at the end of the morning session while the Shanghai Composite Index lost 0.1 percent, to 2,834.39 points. ** Overall, there was muted reaction to China’s June trade data. ** China’s exports unexpectedly accelerated in June and its trade surplus with the United States hit a record high in a positive sign for the economy, though the result looks set to keep a bitter trade dispute with Washington on the boil.

** Analysts have raised their 2018 growth forecasts for China’s economy, a surprising result given an escalating trade war with the United States, as they see a deleveraging drive and pollution crackdown having less of an impact than initially expected. ** In Hong Kong, the Hang Seng index added 0.6 percent, to 28,645.70 points, while the Hong Kong China Enterprises Index gained 0.4 percent, to 10,799.78. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.61 percent while Japan’s Nikkei index was up 2.07 percent. ** The yuan was quoted at 6.6718 per U.S. dollar, 0.02 percent firmer than the previous close of 6.673. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai Hongda Mining Co Ltd, up 10.08 percent, followed by Veken Technology Co Ltd, up, 10.08 percent and Dynagreen Environmental Protection Group Co Ltd up by 10.02 percent. ** The largest percentage losers on the Shanghai index were Huayi Electric Co Ltd, down 10.06 percent, followed by Ningxia Xinri Hengli Steel Wire Rope Co Ltd, down 10.02 percent and Shandong Jiangquan Industry Co Ltd , down 9.96 percent. ** The top gainers among H-shares were Sinopharm Group Co Ltd up 3.11 percent, followed by Hengan International Group Company Ltd gaining 2.74 percent and Guangdong Investment Ltd up by 2.46 percent. ** The three biggest H-shares percentage decliners were ZhongAn Online P & C Insurance Co Ltd which has fallen 2.08 percent, China Shenhua Energy Co Ltd which has lost 1.1 percent and Air China Ltd down by 0.8 percent. ** About 6.62 billion shares have traded so far on the Shanghai exchange, roughly 50.4 percent of the market’s 30-day moving average of 13.15 billion shares a day. The volume traded was 14.70 billion as of the last full trading day. ** As of 04:03 GMT, China’s A-shares were trading at a premium of 20.37 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day and 200-day moving averages. ** The price-to-earnings ratio of the Shanghai index was 12.29 as of the last full trading day while the dividend yield was 2.6 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 3.39 percent to 30.01 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.1 percent while the IT sector rose 0.9 percent. The top gainer on Hang Seng was China Mengniu Dairy Co Ltd, up 4.53 percent, while the biggest loser was China Shenhua Energy Co Ltd which was down 1.15 percent.

Reporting by Luoyan Liu and John Ruwitch

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