December 28, 2017 / 4:37 AM / 9 months ago

China stocks led up by consumer plays; HK follows Asian markets higher

SHANGHAI, Dec 28 (Reuters) - China stocks rose on Thursday, inspired by a jump in consumer shares after the nation’s leading liquor maker Kweichow Moutai forecast a 58 percent surge in 2017 profit. ** Hong Kong shares also firmed, as Asian shares rose to a one-month high and were on track for their best annual performance since 2009. The upbeat mood eclipsed signs of liquidity stress in Chinese money market

** At 04:12 GMT, the Shanghai Composite index was up 15.85 points or 0.48 percent at 3,291.63. ** China’s blue-chip CSI300 index was up 0.67 percent, with its financial sector sub-index higher by 0.28 percent, the consumer staples sector up 3.32 percent, the real estate index down 0.36 percent and healthcare sub-index up 0.59 percent. ** Chinese H-shares listed in Hong Kong rose 0.28 percent to 11,650.17 while the Hang Seng Index was up 0.57 percent at 29,764.90. ** The smaller Shenzhen index was up 0.55 percent and the start-up board ChiNext Composite index was 0.29 percent higher. ** Around the region, MSCI’s Asia ex-Japan stock index firmed 0.57 percent while Japan’s Nikkei index was up 0.07 percent. ** The yuan was quoted at 6.544 per U.S. dollar, 0.2 percent firmer than the previous close of 6.557. ** The largest percentage gainers in the main Shanghai Composite index were Henan Zhongfu Industrial Co Ltd up 10.06 percent, followed by Sichuan Western Resources Holding Co Ltd gaining 9.98 percent and Yangzhou Yaxing Motor Coach Co Ltd up 9.97 percent. ** The largest percentage losses in the Shanghai index were Changchun Gas Co Ltd down 7.89 percent, Wenyi Suntech Co Ltd off 6.89 percent and BOCO Inter-Telecom Co Ltd down 5 percent. ** So far this year, the Shanghai stock index is up 5.55 percent, while China’s H-share index is up 23.7 percent. Shanghai stocks have declined 1.25 percent this month. ** The top gainers among H-shares were Great Wall Motor Co Ltd up 2.89 percent, followed by Zhuzhou CRRC Times Electric Co Ltd gaining 2.04 percent and New China Life Insurance Co Ltd up 2.03 percent. ** The three biggest H-shares percentage decliners were Haitong Securities Co Ltd off 1.05 percent, China Shenhua Energy Co Ltd down 1.0 percent and China Railway Construction Corp Ltd 0.9 percent lower. ** About 8.71 billion shares have traded so far on the Shanghai exchange, roughly 56.3 percent of the market’s 30-day moving average of 15.46 billion shares a day. The volume traded was 16.27 billion as of the last full trading day. ** As of 04:13 GMT, China’s A-shares were trading at a premium of 29.89 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 14.71 as of the last full trading day while the dividend yield was 2 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by 0.82 percent to 28.56 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.3 percent while the IT sector rose 1.1 percent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 5.65 percent, while the biggest loser was China Mengniu Dairy Co Ltd which was down 1.91 percent.

Reporting by Samuel Shen and Brenda Goh; Editing by Shri Navaratnam

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