February 13, 2018 / 7:17 AM / 2 months ago

China stocks extend rebound as global markets find footing

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Guizhou Wire Rope Co Ltd and losses by Zhongnongfa Seed Industry Group Co Ltd

* China’s A-shares are at a 30.11 percent premium over H-shares.

SHANGHAI, Feb 13 (Reuters) - China stocks rebounded on Tuesday as global equity markets appeared to regain some footing after last week’s heavy sell-off. Sentiment was also aided by signs of government support and record bank lending in January. ** At the close, the Shanghai Composite index was up 31.47 points or 1 percent at 3,185.60. ** The blue-chip CSI300 index was up 1.19 percent, with its financial sector sub-index higher by 1.87 percent, the consumer staples sector up 1.29 percent, the real estate index up 2.77 percent and healthcare sub-index up 0.73 percent. ** The smaller Shenzhen index ended up 0.41 percent and the start-up board ChiNext Composite index was unchanged. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.9 percent while Japan’s Nikkei index closed down 0.7 percent. ** At 07:03 GMT, the yuan was quoted at 6.3357 per U.S. dollar, 0.14 percent weaker than the previous close of 6.3268. ** The largest percentage gainers in the main Shanghai Composite index were Guizhou Wire Rope Co Ltd up 10.06 percent, followed by Shenma Industry Co Ltd gaining 10.06 percent and Henan Ancai Hi-tech Co Ltd up by 10.03 percent. ** The largest percentage losses in the Shanghai index were Zhongnongfa Seed Industry Group Co Ltd down 7.35 percent, followed by Shanghai Zhongyida Co Ltd losing 6.82 percent and Jiangsu Protruly Vision Technology Group Co Ltd down by 5.15 percent. ** About 15.15 billion shares were traded on the Shanghai exchange, roughly 68.5 percent of the market’s 30-day moving average of 22.12 billion shares a day. The volume in the previous trading session was 15.33 billion. ** As of 07:05 GMT, China’s A-shares were trading at a premium of 30.10 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 14.46 as of the last full trading day while the dividend yield was 2 percent. (Reporting by Shanghai Newsroom; Editing by Kim Coghill)

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