* SSEC 1.1%, CSI300 1.3%, HSI -0.5%
* HK->Shanghai Connect daily quota used 7.9%, Shanghai->HK
quota used 4.6%
* FTSE China A50 +1.4%
SHANGHAI, Nov 30 (Reuters) - China's blue-chip index scaled
a near 5-1/2-year high on Monday, led by gains in traditional
industries, as upbeat factory activity data showed continued
recovery in the world's second-largest economy amid the
** The CSI300 index rose 1.3% to 5,045.01 points,
its highest since June 18, 2015, while the Shanghai Composite
Index gained 1.1% to 3,444.84 points.
** Leading the gains, the Shanghai SE50 index,
which tracks the 50 most representative traditional stocks on
the Shanghai Stock Exchange, climbed as much as 2% to its
highest since February 2008.
** China's factory activity expanded at the fastest pace in
more than three years in November, while growth in the services
sector also hit a multi-year high, as the country's economic
recovery from the coronavirus stepped up.
** Upbeat data released on Monday suggests the world's
second-largest economy is on track to become the first to
completely shake off the drag from widespread industry
shutdowns, with recent production data showing manufacturing now
at pre-pandemic levels.
** The main reason for the strong rally was China's
continued recovery, said Zhang Gang, an analyst with China
** The cyclicals rally would also continue for a while as
their low valuations remain low, at least before China's Lunar
New Year holiday if investors do not find good opportunities in
growth players, he added.
** In Hong Kong, stocks fell as energy firms dragged. The
Hang Seng index dropped 0.5% to 26,760.53 points, while
the Hong Kong China Enterprises Index lost 0.2% to
** The Hang Seng energy slumped 5.6% by midday, led
by China's national offshore oil and gas producer CNOOC Ltd
tumbling 10.4% after news of U.S. blacklisting.
(Reporting by Luoyan Liu and Andrew Galbraith;
Editing by Vinay Dwivedi)