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China stocks rise on Trump's remarks on trade talks; Hang Seng gains

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12/04/2019 | 11:57pm EDT

Chinese shares rose on Thursday as investors took hope from comments by U.S. President Donald Trump suggesting progress in trade negotiations, although caution prevailed amid warnings from Beijing over the passage of a bill on Xinjiang.

** At the midday break, the Shanghai Composite index was up 0.32% at 2,887.39.

** China's blue-chip CSI300 index <.CSI300> was up 0.33%, with its financial sector sub-index <.CSI300FS> higher by 0.27%, the consumer staples sector <.CSI000912> down 0.06%, the real estate index <.CSI000952> down 0.39% and the healthcare sub-index <.CSI300HC> up 0.8%.

** Trump said on Wednesday that trade talks with China were going "very well," sounding more positive than on Tuesday when he said a trade deal might have to wait until after the 2020 U.S. presidential election.

** But Chinese official media on Thursday called for harsh reprisals after the U.S. House of Representatives passed the Uighur Act of 2019, which calls for a tougher response to Beijing's treatment of its Uighur Muslim minority.

** China warned passage of the bill would affect bilateral cooperation, clouding prospects for a near-term deal to end the two countries' trade war.

** Chinese H-shares listed in Hong Kong rose 0.39% to 10,294.09, while the Hang Seng was up 0.33% at 26,148.88.

** The smaller Shenzhen index was up 0.64% and the start-up board ChiNext Composite index was 1.49% higher.

** Around the region, MSCI's Asia ex-Japan stock index <.MIAPJ0000PUS> was firmer by 0.40%, while Japan's Nikkei index <.N225> was up 0.71%.

** The yuan <CNY=CFXS> was quoted at 7.0548 per U.S. dollar, 0.06% weaker than the previous close of 7.0508.

** The largest percentage gainers on the main Shanghai Composite index were WG Tech JiangXi Co Ltd, up 10.01%, followed by Zhejiang CFMoto Power Co Ltd, gaining 10% and Beijing Tricolor Technology Co Ltd, up by 9.99%.

** The largest percentage losers on the Shanghai index were Shanghai Chuangli Group Co Ltd, down 10.02%, followed by Shenzhen Geoway Co Ltd, losing 4.6% and Shanghai Beite Technology Co Ltd, down by 3.85%.

** So far this year, the Shanghai stock index is up 15.41%, while China's H-share index has gained 1.3%. Shanghai stocks have risen 0.21% this month.

** The top gainers among H-shares were Sinopharm Group Co Ltd, up 2.32%, followed by Postal Savings Bank of China Co Ltd, gaining 1.98% and Anhui Conch Cement Co Ltd, up by 1.62%. ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, which has fallen 1.35%, China Vanke Co Ltd, down 0.85% and ENN Energy Holdings Ltd, which lost 0.72%.

** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.5%, while the IT sector rose 0.3%. The top gainer on the Hang Seng was Sunny Optical Technology Group Co Ltd, up 3.61%, while the biggest loser was China Mengniu Dairy Co Ltd, which was down 0.66%.

(Reporting by Andrew Galbraith; editing by Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
ANHUI CONCH CEMENT COMPANY LIMITED -1.76% 55.95 End-of-day quote.-1.50%
AT HOME GROUP INC. 2.85% 5.77 Delayed Quote.4.91%
BANK OF CHINA LIMITED -0.36% 2.79 End-of-day quote.-16.22%
BEIJING TRICOLOR TECHNOLOGY CO., LTD -1.83% 41.36 End-of-day quote.8.87%
CHINA GAS HOLDINGS LIMITED -0.99% 24.9 End-of-day quote.-14.73%
CHINA MENGNIU DAIRY COMPANY LIMITED 0.14% 35.05 End-of-day quote.11.27%
ENN ENERGY HOLDINGS LIMITED -1.52% 90.8 End-of-day quote.6.64%
EURO / US DOLLAR (EUR/USD) 0.22% 1.14333 Delayed Quote.1.19%
HANG SENG 0.39% 25469.49 Real-time Quote.-10.00%
HOPE, INC. -0.74% 3355 End-of-day quote.4.19%
JUST GROUP PLC -2.42% 50.1 Delayed Quote.-34.75%
LETS HOLDINGS GROUP CO., LTD. -5.25% 11.37 End-of-day quote.88.25%
LOOK HOLDINGS INCORPORATED -3.31% 702 End-of-day quote.-43.93%
NIKKEI 225 1.59% 22945.5 Real-time Quote.-4.52%
POSTAL SAVINGS BANK OF CHINA CO., LTD. 0.43% 4.62 End-of-day quote.-12.83%
RISE, INC. 0.00% 29 End-of-day quote.-3.33%
S&P/CITIC 300 INDEX -0.01% 4112.56 Delayed Quote.17.24%
S&P/CITIC 50 INDEX -0.02% 4027.67 Delayed Quote.8.74%
SHANGHAI A INDEX -1.56% 3523.3006 Real-time Quote.11.99%
SHANGHAI BEITE TECHNOLOGY CO., LTD. -1.66% 7.11 End-of-day quote.14.49%
SHANGHAI CHUANGLI GROUP CO., LTD. 5.46% 8.89 End-of-day quote.-0.34%
SHANGHAI STOCK EXCHANGE B SHARES INDEX -1.48% 237.7408 Real-time Quote.-6.04%
SHENZHEN GEOWAY CO., LTD. 0.00% 1.78 End-of-day quote.8.54%
SHENZHEN STOCK EXCHANGE A SHARE INDEX -2.07% 2367.3339 Real-time Quote.34.13%
SINOPHARM GROUP CO., LTD. -2.22% 19.38 End-of-day quote.-31.88%
SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED -3.54% 139.1 End-of-day quote.3.11%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.19% 6.9893 Delayed Quote.0.58%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.10% 6.9914 Delayed Quote.0.49%
WG TECH JIANGXI CO LTD 0.00%End-of-day quote.0.00%
WILL GROUP, INC. -0.48% 628 End-of-day quote.-49.84%
ZHEJIANG CFMOTO POWER CO.,LTD 3.10% 85.11 End-of-day quote.101.21%
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