March 8, 2018 / 4:46 AM / 12 days ago

HK, China stocks rise on trade data, hopes of tariff exemptions

* SSEC 0.3 pct, CSI300 0.6 pct, HSI 1.4 pct

* HK->Shanghai Connect daily quota used 10.4 pct, Shanghai->HK daily quota used 4 pct

* FTSE China A50 +0.9 pct, BNY Mellon ADR China Select Index +0.8 pct

SHANGHAI, March 8 (Reuters) - Hong Kong stocks climbed on Thursday, buoyed by China’s robust trade data, and on news U.S. President Donald Trump’s proposed tariffs may exclude certain key partners, soothing fears of an impending trade war.

** Chinese H-shares listed in Hong Kong rose 1.51 percent to 12,364.36, while the Hang Seng Index was up 1.44 percent at 30,631.13. ** White House spokeswoman Sarah Sanders told a media briefing that the impending hefty U.S. tariffs on steel and aluminium imports could exclude Canada, Mexico and a clutch of other countries. ** On the mainland, stocks also firmed after solid trade data, and as analysts expected limited impact from the potential U.S. tariffs on the world’s second-largest economy. ** At 0402 GMT, the Shanghai Composite index was up 8.02 points or 0.25 percent at 3,279.68, while the blue-chip CSI300 index was up 0.64 percent at 4,062.55 points. ** The smaller Shenzhen index was up 0.52 percent and the start-up board ChiNext Composite index was higher by 0.05 percent. ** China’s exports unexpectedly surged the fastest in three years in February, suggesting its economic growth remains resilient even as trade relations with the United States rapidly deteriorate. ** China has already reduced steel exports to the United States to a trickle, and while aluminium shipments account for around 10 percent of its total global exports of the metal, the number is still small compared with China’s total exports, according to ING economist Iris Pang. ** “All in all, the direct impact on China is minimal,” Pang said in a note published on Thursday. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.94 percent while Japan’s Nikkei index was up 0.63 percent. ** The yuan was quoted at 6.327 per U.S. dollar, 0.1 percent weaker than the previous close of 6.3206. ** The largest percentage gainers in the main Shanghai Composite index were Xinjiang Bai Hua Cun Co Ltd up 10.04 percent, followed by MeiDu Energy Corp gaining 10 percent and Nanjing Chemical Fibre Co Ltd up by 9.95 percent. ** The largest percentage losses in the Shanghai index were China Molybdenum Co Ltd down 4.93 percent, followed by Universal Scientific Industrial Shanghai Co Ltd losing 4.02 percent and Ningbo Shanshan Co Ltd down by 3.97 percent. ** The top gainers among H-shares were Huaneng Power International Inc, rising as much as 6.11 percent, followed by CSPC Pharmaceutical Group Ltd, which gained up to 5.19 percent and Dongfeng Motor Group Co Ltd up by 4.95 percent. ** The three biggest H-shares percentage decliners were China Communications Construction Co Ltd which has fallen 0.82 percent, China Telecom Corp Ltd which has lost 0.3 percent and China Railway Group Ltd down by 0.2 percent. ** About 7.90 billion shares have traded so far on the Shanghai exchange, roughly 39.7 percent of the market’s 30-day moving average of 19.93 billion shares a day. The volume traded was 16.87 billion as of the last full trading day. ** As of 04:02 GMT, China’s A-shares were trading at a premium of 28.42 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 14.93 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 0.43 percent to 29.24 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 1.1 percent while the IT sector rose 1.6 percent. The top gainer on Hang Seng was China Resources Power Holdings Co Ltd up 5.15 percent, while the biggest loser was Sino Land Co Ltd which was down 0.28 percent.

Reporting by Samuel Shen and John Ruwitch, Editing by Sherry Jacob-Phillips

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