SHANGHAI, Oct 11 (Reuters) - China stocks rose on Friday to end the four-session week higher, as investors cheered signs of progress in the ongoing U.S.-China trade talks.
** The blue-chip CSI300 index rose 1.0%, to 3,911.73, while the Shanghai Composite Index closed up 0.9% at 2,973.66.
** For the week, CSI300 gained 2.5%, while SSEC was up 2.4%.
** U.S. and Chinese negotiators on Thursday wrapped up a first day of trade talks in more than two months as business groups expressed optimism the two sides might be able to ease a 15-month trade war and delay a U.S. tariff hike scheduled for next week.
** U.S. President Donald Trump said “we had a very, very good negotiation with China”, while a White House official said the talks had gone “probably better than expected”.
** Sectors rallied across the board on Friday, with financials and energy firms leading the gains.
** The market rally is ongoing given low valuations overall, though any further upward trend would depend a lot on the rolling out of more-than-expected easing policies by domestic and overseas countries, Huachuang Securities wrote in report.
** MSCI’s Asia ex-Japan stock index was firmer by 1.29%, while Japan’s Nikkei index closed up 1.15%.
** At 07:17 GMT, the yuan was quoted at 7.1052 per U.S. dollar, 0.14% firmer than the previous close of 7.115.
** The largest percentage gainers in the main Shanghai Composite index were Xinjiang Youhao Group Co Ltd, up 10.07%, followed by China Hi-Tech Group Co Ltd, up 10.06% and HY Energy Group Co Ltd up 10.03%.
** The largest percentage losses in the Shanghai index were Panda Financial Holding Corp Ltd down 9.96%, Fujian Raynen Technology Co Ltd down 7.85% and Zhe Jiang Taihua New Material Co Ltd down 7.68%.
** As of 07:18 GMT, China’s A-shares were trading at a premium of 29.55% over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; editing by Jason Neely)
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