January 9, 2018 / 4:31 AM / 2 months ago

China stocks edge up, helped by consumer firms; Hong Kong also rises

SHANGHAI, Jan 9 (Reuters) - China shares on Tuesday were trying to extend a rally to an eighth straight day and were up at midday, helped by gains for consumer and healthcare firms. ** At 04:03 GMT, the Shanghai Composite index was up 2.76 points or 0.08 percent at 3,412.24. ** China’s blue-chip CSI300 index was up 0.4 percent, with its financial sector sub-index higher by 0.41 percent, the consumer staples sector up 2.92 percent, the real estate index down 0.6 percent and healthcare sub-index up 1.19 percent. ** Chinese H-shares listed in Hong Kong rose 0.32 percent at 12,274.24 while the Hang Seng Index was up 0.37 percent at 31,014.32. ** The smaller Shenzhen index was up 0.07 percent and the start-up board ChiNext Composite index was weaker by 0.25 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.19 percent while Japan’s Nikkei index was up 0.58 percent. ** The yuan was quoted at 6.502 per U.S. dollar, 0.06 percent weaker than the previous close of 6.4984. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai Jiaoda Onlly Co Ltd up 10.06 percent, followed by Easysight Supply Chain Management Co Ltd gaining 9.98 percent and Sichuan Languang Development Co Ltd up by 9.98 percent. ** The largest percentage losses in the Shanghai index were Jiangsu Protruly Vision Technology Group Co Ltd down 4.97 percent, followed by BOCO Inter-Telecom Co Ltd losing 4.94 percent and Sinovel Wind Group Co Ltd down by 4.88 percent. ** This year, the Shanghai stock index is up 3.09 percent, while China’s H-share index is up 4.5 percent. ** The top gainers among H-shares were Ping An Insurance Group Co of China Ltd up 2.74 percent, followed by Dongfeng Motor Group Co Ltd gaining 2.53 percent and New China Life Insurance Co Ltd up by 2.44 percent. ** The three biggest H-shares percentage decliners were Anhui Conch Cement Co Ltd which has fallen 2.62 percent, Air China Ltd which has lost 2.3 percent and China Shenhua Energy Co Ltd down by 2.2 percent. ** About 10.98 billion shares have traded so far on the Shanghai exchange, roughly 70.7 percent of the market’s 30-day moving average of 15.53 billion shares a day. The volume traded was 23.62 billion as of the last full trading day. ** As of 04:04 GMT, China’s A-shares were trading at a premium of 27.15 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 15.35 as of the last full trading day while the dividend yield was 1.9 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.51 percent to 29.86 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped percent while the IT sector rose 1.1 percent. The top gainer on Hang Seng was Sands China Ltd up 3.38 percent, while the biggest loser was Hengan International Group Company Ltd which was down 3.55 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Richard Borsuk

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