SHANGHAI, Aug 12 (Reuters) - China stocks climbed on Monday, led by gains
in consumer and securiti... عرض المزيدSHANGHAI, Aug 12 (Reuters) - China stocks climbed on Monday, led by gains
in consumer and securities shares, after Beijing showed support for its capital markets by relaxing margin financing amid lingering trade worries.
** The CSI300 index rose 1.0% to 3,668.57 at the midday break,
while the Shanghai Composite Index gained 0.7% to 2,794.30.
** U.S. President Donald Trump on Friday said he was not ready to
make a deal with China and even called a September round of trade talks into question, reviving concerns on financial markets that the bilateral dispute is unlikely to end
anytime soon.
** Overall, there are more opportunities than risks in the A-share market despite various external challenges including Sino-U.S.
trade war, China Merchants Securities noted in report.
** China's exports maintained positive growth, indicating the impact on the
country's exports and manufacturing industry from the
ongoing trade spat was not that significant as imagined before, while valuations of A-shares
were around historic lows, the brokerage added.
** Financial stocks, particularly securities shares, rallied by the lunch break as the securities watchdog relaxed margin financing rules.
** "With the new rules released, along with the CSRC's relaxation on asset restructuring and backdoor listings announced in June, we expect more active trading in A-shares, especially for the smaller-cap stocks newly included," analysts
with Morgan Stanley said in a note.
** Consumer firms also shined, as bellwether Moutai led with a 4.5%
gain in the sector after brokerage raised its share
target price to 1,200 yuan.
** In Hong Kong, stocks were basically flat amid protests.
** The Hang Seng index was unchanged at 25,941.79, while the Hong Kong China Enterprises Index gained
0.5%, to 10,046.56.
** Hong Kong's protests are hitting its economy, the city's leader Carrie Lam
said on Friday, echoing warnings from business leaders
including powerful local property developers.
** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.02%
while Japan's Nikkei index was up 0.44%.
** The yuan was quoted at 7.0624 per U.S. dollar, 0.01% weaker
than the previous close of 7.0615.
** The largest percentage gainers in the main Shanghai Composite index were Anhui Golden Seed Winery Co Ltd ,
up 10%, followed by Flat Glass Group Co Ltd , gaining 10% and Olympic Circuit Technology Co Ltd ,
up by 9.98%.
** The largest percentage losers in the Shanghai index were Zhejiang Xinneng Photovoltaic Technology Co Ltd, down 7.4%, followed by Chengtun Mining Group Co Ltd, losing
6.72% and Rising Nonferrous Metals Share Co Ltd , down by 5.89%.
** The top gainers among H-shares were China
Gas Holdings Ltd, up 3.34%, followed by CITIC
Securities Co Ltd , gaining 2.81% and China Shenhua Energy Co Ltd , up by 2.57%.
** The three biggest H-shares percentage decliners were China Resources Beer Holdings Co Ltd, which
has fallen 2.04%, PetroChina Co Ltd, which has lost 1.0% and Hengan International Group Company Ltd,
down by 0.9%.
** As of 0415 GMT, China's A-shares were trading at a premium of 29.91% to the Hong Kong-listed H-shares.
(Reporting by Luoyan Liu and John Ruwitch)
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SHANGHAI, Aug 12 (Reuters) - China stocks climbed on Monday, led by gains
in consumer and securiti... عرض المزيد