SHANGHAI, May 17 (Reuters) - China stocks rose on Tuesday,
as Shanghai achieved the long-awaited milestone of three
straight days with no new COVID-19 cases outside quarantine
zones, while Hong Kong-listed tech firms jumped on hopes of
crackdown on the sector being relaxed.
The CSI300 index rose 0.9% to 3,991.34 at the end
of the morning session, while the Shanghai Composite Index
gained 0.3% to 3,082.66.
The Hang Seng index added 2.2% to 20,395.66. The Hong
Kong China Enterprises Index gained 2.6% to 7,000.38.
** The milestone Shanghai achieved usually means "zero
COVID" status and could lead to the beginning of the lifting of
restrictions. A nationwide COVID-19 caseload also declined, with
1,100 new cases reported on Monday, down from 1,227 new cases on
** "The good news is the headline COVID case number has been
falling," Nomura said in a note, but "we are not at a turning
** "The outlook for economic fundamentals and most financial
assets in coming months will be largely determined by Beijing's
stance on its zero-COVID strategy rather than the number of
** China's state planner will strengthen support for
manufacturers, the service sector and small firms, it said on
Tuesday, as China's retail and factory activity fell sharply in
April due to wide lockdowns.
** Semiconductors, new energy firms
and automobiles surged between 2.2%
** The Chinese People's Political Consultative Conference
(CPPCC), China's top political consultative bodystarted a
meeting to discuss how to promote the development of the digital
economy, state media reported.
** J.P. Morgan analysts upgraded some Chinese internet
companies on Monday and expect "significant uncertainties" faced
by the sector to abate following recent favourable regulatory
** Hong Kong-listed tech giants rose more than 4%,
with index heavyweight Alibaba Group surging 5.4%,
while Tencent and Meituan gained more than
(Reporting by Shanghai Newsroom; Editing by Rashmi Aich)