December 5, 2017 / 4:33 AM / a year ago

China stocks rise as service sector activity picks up; HK mixed

SHANGHAI, Dec 5 (Reuters) - China stocks rose on Tuesday morning after a private survey showed growth in China’s services sector activity picked up to a three-month high in November.

Hong Kong shares were mixed, after a survey showed the city’s November business activity expanded at a slightly faster pace.

** At 04:07 GMT, the Shanghai Composite index was up 1.98 points or 0.06 percent at 3,311.59. ** China’s blue-chip CSI300 index was up 0.53 percent, with its financial sector sub-index higher by 1.17 percent. The consumer staples sector was up 0.44 percent, the real estate index rose 0.69 percent and healthcare sub-index was vup 0.06 percent. ** Chinese H-shares listed in Hong Kong rose 0.29 percent at 11,551.85 points, while the Hang Seng Index was down 0.3 percent at 29,051.63. ** The smaller Shenzhen index was down 0.75 percent and the start-up board ChiNext Composite index was 1.2 percent weaker. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.02 percent while Japan’s Nikkei index was down 0.30 percent . ** The yuan was quoted at 6.6116 per U.S. dollar, 0.08 percent firmer than the previous close of 6.6166. ** The largest percentage gainers in the main Shanghai Composite index were Kunwu Jiuding Investment Holdings Co Ltd up 9.99 percent, followed by Yangmei Chemical Co Ltd gaining 6.98 percent ,and Ningbo Bird Co Ltd rising by 6.12 percent. ** The largest percentage losses in the Shanghai index were Sichuan Langsha Holding Ltd down 9.99 percent, followed by Lawton Development Co Ltd losing 9.61 percent and Xinjiang Urban Construction Group Co Ltd down by 8.89 percent. ** So far this year, the Shanghai stock index is up 6.64 percent, while China’s H-share index is up 22.6 percent. Shanghai stocks have declined 0.23 percent this month. ** The top gainers among H-shares were New China Life Insurance Co Ltd up 3.01 percent, followed by China Communications Construction Co Ltd gaining 2.77 percent and China Merchants Bank Co Ltd up by 1.81 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd which has fallen 1.10 percent, China Telecom Corp Ltd which has lost 1.0 percent and China Minsheng Banking Corp Ltd down by 0.5 percent. ** As of 04:07 GMT, China’s A-shares were trading at a premium of 31.66 percent over the Hong Kong-listed H-shares.

** The price-to-earnings ratio of the Shanghai index was 14.83 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 risen by 0.10 percent to 28.82 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.5 percent while the IT sector fell 1.5 percent. The top gainer on Hang Seng was Wharf Holdings Ltd up 1.74 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd which was down 4.32 percent.

Reporting by Shanghai Newsroom; Editing by Eric Meijer

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