March 12, 2018 / 4:29 AM / in 6 days

China, Hong Kong stocks extend climb after U.S. jobs report

* SSEC 0.5 pct, CSI300 0.4 pct, HSI 1.5 pct

* HK->Shanghai Connect daily quota used 13.1 pct, Shanghai->HK daily quota used -0.9 pct

* FTSE China A50 +0.1 pct, BNY Mellon ADR China Select Index +0.9 pct

SHANGHAI, March 12 (Reuters) - China and Hong Kong stocks extended their rally on Monday morning, tracking robust gains on Wall Street, after the latest U.S. jobs report managed to impress with its strength while also easing fears of inflation and faster rate hikes. ** At 04:06 GMT, the Shanghai Composite index was up 17.01 points or 0.51 percent at 3,324.17, while the blue-chip CSI300 index was up 0.44 percent at 4,126.89. ** Chinese H-shares listed in Hong Kong rose 1.84 percent at 12,660.18, while the Hang Seng Index was up 1.53 percent at 31,469.17. ** Inflation worries faded on Friday after U.S. data showed nonfarm payrolls jumped by 313,000 jobs last month, but annual growth in average hourly earnings slowed to 2.6 percent after a spike in January. ** Trade war fears also ebbed further as the United States opened the way for more exemptions from its steel and aluminum tariffs on Friday, after pressure from allies and intense lobbying from lawmakers. ** On the mainland, start-up firms extended gains, as investors continued to favour tech firms seen as drivers for China’s “new economy” as Beijing attaches more importance to the quality of the country’s economic growth. ** The start-up board ChiNextP jumped as much as 2.4 percent to touch a four-month high, having gained 7 percent this year, far outperforming the Shanghai index and the blue-chip index. ** “New consumption, new technology and new services are inevitable trends for China’s economy,” Chen Guo, an analyst with Essence Securities, wrote in a note. ** “In the medium term, investors shall pay close attention to themes that represent industry trends and receive policy support, including intelligent manufacturing, cloud computing and industry Internet,” Chen added. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.35 percent while Japan’s Nikkei index was up 1.46 percent. ** The yuan was quoted at 6.3306 per U.S. dollar, 0.09 percent firmer than the previous close of 6.336. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai U9 Game Co Ltd up 10.05 percent, followed by Dr. Peng Telecom & Media Group Co Ltd gaining 9.98 percent and Xinjiang Bai Hua Cun Co Ltd up by 9.97 percent. ** The largest percentage losses in the Shanghai index were Shanghai Fukong Interactive Entertainment Co Ltd down 9.99 percent, followed by China Fortune Land Development Co Ltd losing 5.17 percent and Poly Real Estate Group Co Ltd down by 4.46 percent. ** The top gainers among H-shares were Air China Ltd up 5.79 percent, followed by CSPC Pharmaceutical Group Ltd gaining 4.2 percent and CNOOC Ltd up by 3.19 percent. ** The three biggest H-shares percentage decliners were CGN Power Co Ltd which has fallen 1.84 percent, Great Wall Motor Co Ltd which has lost 0.7 percent and Hengan International Group Company Ltd down by 0.5 percent. ** About 12.18 billion shares have traded so far on the Shanghai exchange, roughly 62.7 percent of the market’s 30-day moving average of 19.44 billion shares a day. The volume traded was 16.84 billion as of the last full trading day. ** As of 04:06 GMT, China’s A-shares were trading at premium of 26.46 percent over the Hong Kong-listed H-shares. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 2.2 percent while the IT sector rose 1.8 percent. The top gainer on Hang Seng was CNOOC Ltd up 3.19 percent, while the biggest loser was AAC Technologies Holdings Inc which was down 1.13 percent.

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

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