* Blue-chips rise, banking shares gain after Ant IPO’s suspension
* Shanghai Composite, Hong Kong’s Hang Seng flat
* Investors eyeing U.S. presidential election outcome
SHANGHAI, Nov 4 (Reuters) - China’s blue-chip CSI300 index rose on Wednesday, boosted by banking shares, as investors appeared to take in stride the suspension of Ant Group’s closely watched mega-listing, with a strong services activity survey aiding sentiment.
The U.S. presidential election was also on investors’ radar as early results indicated a nail-biting finish to the race.
The CSI300 index rose 0.5% to 4,802.10. The Shanghai Composite Index was unchanged at 3,272.06.
China on Tuesday suspended Ant Group’s $37 billion listing, thwarting the world’s biggest stock market debut, with analysts saying the move could bode well for Chinese banks as it could mean decreased competition from the tech giant.
The CSI300 banks index rose 1.5%.
“...Given what’s going on in the IPO process and the new limit put on Ant Group, banks are probably getting relief”, said Shen Yi, CEO at Shanghai ShenYi Investment Co.
In the United States, President Donald Trump was leading Democratic rival Joe Biden in the vital battleground state of Florida on Tuesday, while it was a close call in swing states, including North Carolina.
“A Biden win could help the A-share market for the short-term as he could cancel some things (such as tariffs). But for the long term, a Biden presidency is bad for China as he will be more professional and effective than Trump in containing China,” said Zhang Chengyu, vice general manager of Beijing-based Shiji Hongfan Asset Management Co.
Meanwhile, the recovery in China’s service sector activity extended into a sixth straight month in October, an industry survey showed.
In Hong Kong, the Hang Seng index was unchanged at 24,933.48, while Hong Kong China Enterprises Index gained 0.2% to 10,090.90. (Reporting by Luoyan Liu and Andrew Galbraith; editing by Uttaresh.V)
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