January 18, 2019 / 4:27 AM / a year ago

China, Hong Kong stocks rise on trade relief

* Shanghai index rises 0.8 pct, Hang Sang 1.0 pct higher

* U.S. Treasury Secretary Mnuchin weighs lifting tariffs on China - WSJ

* China to target 6-6.5 pct GDP growth in 2019 - China Daily

SHANGHAI, Jan 18 (Reuters) - China and Hong Kong stocks climbed on Friday, as a media report lifted optimism that Beijing and Washington could reach a deal in their tariff dispute.

** The CSI300 index rose 1.1 percent to 3,145.46 points at the end of the morning session, while the Shanghai Composite Index gained 0.8 percent to 2,579.76 points.

** The Hang Seng index added 1.0 percent to 27,013.20 points, while the Hong Kong China Enterprises Index gained 1.0 percent to 10,620.36 points.

** The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30.

** Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for the latest round of trade talks aimed at resolving the dispute between the world’s two largest economies.

** China may set an economic growth target for this year of between 6 percent and 6.5 percent, lower than for 2018, the official China Daily newspaper reported on Friday, citing unnamed sources close to policymakers.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.56 percent while Japan’s Nikkei index was up 1.29 percent.

** The yuan was quoted at 6.7766 per U.S. dollar, 0.04 percent firmer than the previous close of 6.779.

** The largest percentage gainers in the main Shanghai Composite index were Shanghai Hongda Mining Co Ltd, up 10.1 percent, followed by Sichuan Hongda Co Ltd, gaining 10.04 percent and Guangdong Rongtai Industry Co Ltd , up by 10 percent.

** The largest percentage losses in the Shanghai index were Changshu Fengfan Power Equipment Co Ltd, down 10.03 percent, followed by Eastern Communications Co Ltd, losing 8.64 percent and Nanjing OLO Home Furnishing Co Ltd , down by 8.25 percent.

** The Shanghai stock index is up 2.64 percent so far this year, while China’s H-share index is up 3.8 percent. Shanghai stocks have risen 2.64 percent this month.

** The top gainers among H-shares were counters of SINOPHARM GROUP CO LTD, up 6.19 percent, followed by CSPC Pharmaceutical Group Ltd, gaining 4.91 percent and China Vanke Co Ltd, up by 4.23 percent.

** The three biggest H-shares percentage decliners were Guangdong Investment Ltd, which has fallen 1.54 percent, Guangzhou Automobile Group Co Ltd, which has lost 1.1 percent and PICC Property and Casualty Co Ltd , down by 1.0 percent.

** About 11.22 billion shares have traded so far on the Shanghai exchange, roughly 83.0 percent of the market’s 30-day moving average of 13.52 billion shares a day. The volume traded was 16.25 billion as of the last full trading day.

** As of 04:02 GMT, China’s A-shares were trading at a premium of 17.35 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Rashmi Aich

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