* HSI flat, H-shares +0.5 pct, CSI300 +0.4 pct
* China aviation, aerospace firms jump on aircraft progress
* China Oilfield hits 7-month high helped by earnings
* China Resources Power slips after president investigated
(Updates to midday)
By Grace Li
HONG KONG, Aug 27 China shares eked out slim
gains on Wednesday morning, thanks to stronger aviation and
aerospace sectors that gained on strides made in manufacturing
the country's first large aircraft.
Hong Kong's main share index barely changed, but the gauge
for H-shares outperformed underpinned by strength in the shares
of China Oilfield Services due to strong earnings.
By midday, the Hang Seng Index was flat at 25,067.18
points. The China Enterprises Index of the top Chinese
listings in Hong Kong rose 0.5 percent.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings added 0.4 percent, while the Shanghai Composite
Index edged up 0.2 percent at 2,212.12 points.
"The market is still in a consolidation, weighed down by
recent soft economic data and the coming subscriptions for
initial public offerings," said Zhang Yanbin, an analyst from
Zheshang Securities in Shanghai.
Among top index boosts in Shanghai, XiAn Aero-Engine PLC
jumped the maximum allowed 10 percent and China Avic
Electronics 2.4 percent.
The manufacturing of China's first large commercial
passenger jet, the C919, is to enter the final assembly stage,
the 21st Century Business Herald reported late on Monday.
Jiangxi Hongdu Aviation Industry, maker of the
aircraft's forebody, climbed 5.2 percent.
The biggest drag, Agricultural Bank of China,
fell 0.4 percent. On Tuesday, the country's third-largest bank
by assets became the third major Chinese bank to report slowing
profit growth and rising bad loans for the second quarter, as a
slowing economy hurts lenders.
China Oilfield Services leapt 8.2
percent in Hong Kong, hitting a 7-month high, and climbing 4.5
percent in Shanghai. The company posted a 39 percent rise in
first-half profit late on Tuesday.
China Resources Power inched down 0.2 percent,
trimming earlier losses of 3.6 percent, after the company said
in a statement to the stock exchange its president Wang Yujun
was under investigation.
Henderson Land Development gained 2.3 percent to a
6-1/2-year high, leading gains on the Hang Seng. The Hong Kong
property developer said late on Tuesday its net profit in the
first half increased by 22 percent.
(Editing by Jacqueline Wong)