December 24, 2019 / 4:33 AM / 2 months ago

China stocks climb on stimulus hopes for smaller firms; Hong Kong closes lower

* SSEC +0.3%, CSI300 +0.3%, HSI -0.2%

* FTSE China A50 +0.2%

* China considering more RRR cuts to lower financing costs - Premier Li

SHANGHAI, Dec 24 (Reuters) - China stocks inched higher on Tuesday after Premier Li Keqiang said Beijing would consider taking more measures to lower financing costs for smaller companies.

** The CSI300 index rose by 0.3%, to 3,979.88, at the end of the morning session, while the Shanghai Composite Index gained 0.3%, to 2,970.19.

** Li said the measures included broad-based and “targeted” cuts in the reserve requirement ratio (RRR), relending and rediscounting.

** Chinese government bond futures edged up in early trade after Li’s remarks.

** In Hong Kong, stocks slipped in the half day Christmas Eve session.

** The Hang Seng index dropped 0.2%, to 27,864.10, while the Hong Kong China Enterprises Index lost 0.1%, to 11,042.49.

** Hong Kong markets will resume trading on Friday, Dec. 27.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.08%, while Japan’s Nikkei index was down 0.05%.

** The yuan was quoted at 7.0104 per U.S. dollar, 0.03% firmer than the previous close of 7.0125.

** As of 04:04 GMT, China’s A-shares were trading at a premium of 25.26% over the Hong Kong-listed H-shares. (Reporting by Luoyan Liu and Brenda Goh; Editing by Subhranshu Sahu)

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