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China stocks jump after holiday break on recovery signs

* SSEC +1.9%, CSI300 +2.3%, HSI +0.1%

* Consumer firms jump 2.66% as domestic tourism rebounds

* Caixin PMI shows continued service sector recovery

SHANGHAI, Oct 9 (Reuters) - China shares jumped on Friday as mainland markets reopened after an extended national holiday, with investors taking reassurance from positive economic data and indications of a rebound in tourism and consumption over the week-long holiday break. ** At the midday break, the Shanghai Composite index was up 1.89% at 3,278.83. ** China’s blue-chip CSI300 index was up 2.32%, with the consumer staples sector adding 2.66%. ** Consumer firms were buoyed by official data showing that Chinese domestic tourism saw a robust rebound over the just-ended Golden Week holiday, encouraged by China’s success in stamping out the novel coronavirus, although levels were still well short of last year. ** Adding to signs of a firming recovery in the world’s second-largest economy, an industry survey showed the recovery in China’s service sector activity extended into a fifth straight month in September, with hiring increasing for the second month in a row. ** “A stronger-than-expected Caixin services PMI for September ... encouraged positive sentiment around the economic outlook. A fairly benign outlook – steadily improving consumption and export growth, and a growing trade surplus – underscores the price action in China’s markets today,” said Stephen Innes, chief global markets strategist at Axi. ** China’s yuan jumped to a 17-month high as it caught up with gains in its offshore counterpart after the eight-day national holiday. ** Chinese H-shares listed in Hong Kong rose 0.48% to 9,670.64, while the Hang Seng Index was up 0.09% at 24,216.26. ** The smaller Shenzhen index was up 3.21%, the start-up board ChiNext Composite index was higher by 3.99% and Shanghai’s tech-focused STAR50 index was up 3.09%. ** So far this year, the Shanghai stock index is up 7.5% and the CSI300 has risen 14.6%, while China’s H-share index listed in Hong Kong is down 13.4%. (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)

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