June 5, 2018 / 4:17 AM / a year ago

China, Hong Kong stocks firm on services data

* SSEC 0.2 pct, CSI300 0.5 pct, HSI 0.2 pct

* HK->Shanghai Connect daily quota used 1.3 pct, Shanghai->HK daily quota used 0.9 pct

* FTSE China A50 +0.3 pct, BNY Mellon ADR China Select Index +1.4 pct

SHANGHAI, June 5 (Reuters) - China and Hong Kong stocks firmed on Tuesday, after data showed China’s services sector expanded at a steady pace in May. ** The CSI300 index rose 0.5 percent to 3,825.97 points at the end of the morning session, while the Shanghai Composite Index gained 0.2 percent to 3,098.34 points. ** Chinese H-shares listed in Hong Kong fell 0.09 percent to 12,238.11, while the Hang Seng Index was up 0.16 percent at 31,046.54. ** China’s services sector expanded at a steady, solid pace in May, with companies accelerating hiring on the back of the strongest optimism for future growth in 11 months, a private survey showed on Tuesday. ** On trade development, China said its door to talks was open in principle, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs. ** On the mainland, gains were led by healthcare firms , with bellwether Jiangsu Hengrui Medicine leaping more than 5 percent to a record high. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.01 percent, while Japan’s Nikkei index was up 0.04 percent. ** The yuan was quoted at 6.4089 per U.S. dollar, 0.1 percent weaker than the previous close of 6.4027. ** The largest percentage gainers on the main Shanghai Composite index were Guodian Nanjing Automation Co Ltd up 10.11 percent, followed by Kunshan Kersen Science & Technology Co Ltd gaining 10.02 percent and Guangdong Wencan Die Casting Co Ltd up by 10 percent. ** The largest percentage losers on the Shanghai index were Shangying Global Co Ltd down 10.01 percent, followed by LONGi Green Energy Technology Co Ltd losing 9.99 percent and Tongwei Co Ltd down by 9.97 percent. ** The top gainers among H-shares were China Resources Land Ltd up 2.78 percent, followed by Shenzhou International Group Holdings Ltd gaining 2.5 percent and Air China Ltd up by 2.23 percent. ** The three biggest H-shares percentage decliners were Guangdong Investment Ltd which fell 3.80 percent, China Petroleum & Chemical Corp which lost 3.2 percent and China Shenhua Energy Co Ltd down by 2.3 percent. ** About 6.14 billion shares have traded so far on the Shanghai exchange, roughly 45.3 percent of the market’s 30-day moving average of 13.55 billion shares a day. The volume traded was 11.46 billion as of the last full trading day. ** As of 04:05 GMT, China’s A-shares were trading at a premium of 18.41 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 13.3 as of the last full trading day, while the dividend yield was 2.5 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.51 percent to 31.99 trillion yuan.

Reporting by Luoyan Liu and John Ruwitch; Editing by Biju Dwarakanath

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