June 11, 2018 / 4:24 AM / a year ago

Hong Kong stocks up ahead of U.S.-North Korea summit; China down

* SSEC -0.3 pct, CSI300 0.2 pct, HSI 0.3 pct

* HK->Shanghai Connect daily quota used 2.1 pct

* FTSE China A50 +0.5 pct

SHANGHAI, June 11 (Reuters) - Hong Kong stocks rose on Monday ahead of a U.S.-North Korea summit on Tuesday that might ease regional tensions, while investors also started to focus on key central bank meetings later this week. ** The Hang Seng index added 0.3 percent, to 31,055.65 points, while the Hong Kong China Enterprises Index gained 0.1 percent, to 12,179.35 points. ** U.S. and North Korean officials were in talks in Singapore on Monday in a late bid to narrow differences before their leaders hold an unprecedented summit meeting aimed at finding ways to end a nuclear stand-off on the Korean peninsula. ** The Federal Reserve holds a two-day meeting starting on June 12, and is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018. ** The European Central Bank meets on June 14, when it could signal its intention to start unwinding its massive bond purchasing programme. ** On the mainland, the benchmark Shanghai index extended losses, down 0.3 percent at 3,059.06 points, while the CSI300 index rose 0.2 percent, to 3,785.20 points at the end of the morning session. ** “We have seen a correction in the stock market for the past weeks due to concerns over liquidity conditions,” Changjiang Securities wrote in a report. ** The macro liquidity environment in June remains tight as a whole, and the implementation of China Depository Receipts (CDRs) policy could also increase pressure on liquidity in the market, the brokerage added. ** China issued final rules on CDRs on Wednesday, allowing overseas-domiciled Chinese technology firms to file a domestic listing application immediately. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.27 percent while Japan’s Nikkei index was up 0.64 percent. ** The yuan was quoted at 6.406 per U.S. dollar, 0.05 percent firmer than the previous close of 6.409. ** The largest percentage gainers in the main Shanghai Composite index were Hubei Zhenhua Chemical Co Ltd up 10.03 percent, followed by Zhejiang Meilun Elevator Co Ltd gaining 10.03 percent and ADD Industry Zhejiang Co Ltd up by 10.01 percent. ** The largest percentage losses in the Shanghai index were Henan Yinge Industrial Investment Co Ltd down 9.16 percent, followed by Everbright Jiabao Co Ltd losing 7.63 percent and Chongqing Brewery Co Ltd down by 7.12 percent. ** The top gainers among H-shares were Guangdong Investment Ltd up 3.99 percent, followed by China Gas Holdings Ltd gaining 3.42 percent and Huaneng Power International Inc up by 2.32 percent. ** The three biggest H-shares percentage decliners were Sinopharm Group Co Ltd which has fallen 3.19 percent, China Railway Group Ltd which has lost 2.6 percent and Guangzhou Automobile Group Co Ltd down by 1.9 percent. ** As of 04:09 GMT, China’s A-shares were trading at a premium of 16.79 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair

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