June 7, 2018 / 4:37 AM / a year ago

Hong Kong stocks set for 6th straight session of gains; China up

* SSEC 0.1 pct, CSI300 0.2 pct, HSI 0.6 pct

* HK->Shanghai Connect daily quota used 3 pct, Shanghai->HK daily quota used -0.4 pct

* FTSE China A50 +0.4 pct, BNY Mellon ADR China Select Index +0.0 pct

SHANGHAI, June 7 (Reuters) - Hong Kong stocks rose on Thursday, tracking gains in other Asian markets supported by strong economic fundamentals. ** The Hang Seng index climbed 0.6 percent, to 31,432.37 points, in line for its sixth straight session of gains, while the Hong Kong China Enterprises Index gained 0.8 percent, to 12,375.51. ** Gains were led by financial firms, with New China Life up 3.1 percent. ** On the mainland, the CSI300 index rose 0.2 percent, to 3,844.80 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent, to 3,117.02 points. ** China’s Commerce Ministry said on Thursday that the country does not want an escalation of trade frictions with the United States, and that some specific progress was made in the latest round of talks that concluded over the weekend.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.40 percent while Japan’s Nikkei index was up 0.84 percent. ** The yuan was quoted at 6.3916 per U.S. dollar, 0.03 percent weaker than the previous close of 6.3898. ** The largest percentage gainers in the main Shanghai Composite index were Ningbo Techmation Co Ltd up 10.05 percent, followed by Ningxia Jiaze Renewables Corp Ltd gaining 10 percent and Guangdong Hec Technology Holding Co Ltd up by 9.97 percent. ** The largest percentage losses on the Shanghai index were recorded by Guangzhou Jiacheng International Logistics Co Ltd down 6.38 percent, followed by Hangzhou First Applied Material Co Ltd losing 6.24 percent and Sichuan Zhenjing Corp Ltd down 5.16 percent. ** The top gainers among H-shares were New China Life Insurance Co Ltd up 3.23 percent, followed by Ping An Insurance Group Co of China Ltd gaining 2.73 percent and Guangzhou Automobile Group Co Ltd up by 2.28 percent. ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd which has fallen 2.76 percent, CSPC Pharmaceutical Group Ltd which has lost 1.9 percent and Huaneng Power International Inc down 1.7 percent. ** About 7.52 billion shares have traded so far on the Shanghai exchange, roughly 56.2 percent of the market’s 30-day moving average of 13.39 billion shares a day. The volume traded was 12.02 billion as of the last full trading day. ** As of 04:00 GMT, China’s A-shares were trading at a premium of 17.74 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 13.35 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 1.30 percent to 32.24 trillion yuan.

Reporting by Luoyan Liu and John Ruwitch; Editing by Amrutha Gayathri

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