February 22, 2018 / 4:51 AM / in a year

China stocks play catch-up after Lunar New Year holiday; HK pulls back

* SSEC +2.0 pct, CSI300 +2.0 pct, HSI -1.1 pct

* HK->Shanghai Connect daily quota used 1.6 pct, Shanghai->HK daily quota used 13.6 pct

* China stocks resume trading after week-long Lunar New Year holiday

SHANGHAI, Feb 22 (Reuters) - China stocks rose sharply on Thursday morning as investors back from the week-long Lunar New Year holiday bid up shares across the board in response to resurgent global equities, while Hong Kong pulled back from two-week highs hit on Wednesday. ** The Shanghai Composite was up 62.40 points, or 1.95 percent, at 3,261.55 at 0416 GMT. ** China’s blue-chip CSI300 index was up 2 percent, with its financial sector sub-index higher by 1.65 percent, the consumer staples sector up 3.05 percent, the real estate index up 1.6 percent and healthcare sub-index up 1.2 percent. ** Chinese H-shares listed in Hong Kong fell 0.9 percent to 12,572.07 while the Hang Seng Index was down 1.07 percent at 31,095.77. ** The smaller Shenzhen index was up 1.76 percent and the start-up board ChiNext Composite index was higher by 1.88 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.81 percent while Japan’s Nikkei index was down 1.24 percent. ** The yuan was quoted at 6.3481 per U.S. dollar, 0.05 percent weaker than the previous close of 6.345. ** The largest percentage gainers in the main Shanghai Composite index were Qingdao Tianhua Institute of Chemistry Engineering Co Ltd up 10.05 percent, followed by Y.U.D. Yangtze River Investment Industry Co Ltd gaining 10.02 percent and Zhejiang Huayou Cobalt Co Ltd up by 10 percent. ** The largest percentage losses in the Shanghai index were Shanghai Hongda Mining Co Ltd down 2.61 percent, followed by Guangdong Boxin Investing & Holdings Co Ltd losing 1.81 percent and Beijing Jingcheng Machinery Electric Co Ltd down by 1.58 percent. ** The top gainers among H-shares were Air China Ltd up 7.41 percent, followed by People’s Insurance Group of China Co Ltd gaining 1.9 percent and China Shenhua Energy Co Ltd up by 1.12 percent. ** The three biggest H-shares percentage decliners were Zhuzhou CRRC Times Electric Co Ltd which has fallen 3.20 percent, CITIC Securities Co Ltd which has lost 2.4 percent and China Petroleum & Chemical Corp down by 1.9 percent. ** About 8.57 billion shares have traded so far on the Shanghai exchange, roughly 39.7 percent of the market’s 30-day moving average of 21.57 billion shares a day. The volume traded was 0.00 as of the last full trading day. ** As of 0417 GMT, China’s A-shares were trading at a premium of 27.54 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 14.68 as of the last full trading day while the dividend yield was 2 percent. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 1.1 percent while the IT sector fell 1.1 percent. The top gainer on Hang Seng was China Mengniu Dairy Co Ltd up 3.59 percent, while the biggest loser was China Resources Land Ltd which was down 2.30 percent.

Reporting by Samuel Shen and John Ruwitch; Editing by Gopakumar Warrier

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