January 18, 2018 / 4:18 AM / a year ago

Hong Kong stocks reach new high; China also up

* SSEC 0.3 pct, CSI300 0.1 pct, HSI 0.1 pct

* China’s Q4 economic growth likely to slow amid debt, pollution battle

* HK->Shanghai Connect daily quota used 10.6 pct, Shanghai->HK daily quota used 25.3 pct

SHANGHAI, Jan 18 (Reuters) - Hong Kong stocks extended gains to a record high, with a rally on Wall Street supporting bullish investor sentiment, and the bourse aided by gains in financial firms.

** China is expected on Thursday to post a modest slowdown in fourth quarter economic growth from the previous three months as the government extended a crackdown on debt risks and factory pollution. Analysts polled by Reuters expect the world’s second-largest economy to have grown 6.7 percent in the October-December quarter from a year earlier, cooling from the previous quarter’s 6.8 percent pace. ** At 04:02 GMT, the Shanghai Composite index was up 8.61 points or 0.25 percent at 3,453.28. ** China’s blue-chip CSI300 index was up 0.12 percent, with its financial sector sub-index higher by 0.19 percent, the consumer staples sector down 0.11 percent, the real estate index down 1.44 percent and healthcare sub-index down 0.56 percent. ** Chinese H-shares listed in Hong Kong rose 0.94 percent at 12,989.94, while the Hang Seng Index was up 0.12 percent at 32,021.73. ** The smaller Shenzhen index was down 0.11 percent and the start-up board ChiNext Composite index was unchanged. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.22 percent while Japan’s Nikkei index was up 0.72 percent. ** The yuan was quoted at 6.4378 per U.S. dollar, 0.07 percent weaker than the previous close of 6.4335. ** The largest percentage gainers in the main Shanghai Composite index were Guizhou Wire Rope Co Ltd up 10.04 percent, followed by Qinghai Spring Medicinal Resources Technology Co Ltd gaining 10.04 percent and Jiangsu Sanfangxiang Industry Co Ltd up by 9.9 percent. ** The largest percentage losses in the Shanghai index were Eastern Gold Jade Co Ltd down 10.04 percent, followed by Shanghai U9 Game Co Ltd losing 7.33 percent and Lawton Development Co Ltd down by 7.32 percent. ** So far this year, the Shanghai stock index is up 4.16 percent, while China’s H-share index is up 9.9 percent. Shanghai stocks have risen 4.16 percent this month. ** The top gainers among H-shares were China Communications Construction Co Ltd up 3.84 percent, followed by China Railway Group Ltd gaining 3.19 percent and China Citic Bank Corp Ltd up by 3.11 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd, which has fallen 2.76 percent, Zhuzhou CRRC Times Electric Co Ltd which has lost 2.3 percent and Air China Ltd down by 2.1 percent. ** About 12.65 billion shares have traded so far on the Shanghai exchange, roughly 76.4 percent of the market’s 30-day moving average of 16.57 billion shares a day. The volume traded was 26.10 billion as of the last full trading day. ** As of 04:02 GMT, China’s A-shares were trading at a premium of 27.97 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 15.59 as of the last full trading day while the dividend yield was 1.9 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.40 percent to 30.23 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.2 percent while the IT sector fell 0.3 percent. The top gainer on Hang Seng was Industrial and Commercial Bank of China Ltd up 2.45 percent, while the biggest loser was Geely Automobile Holdings Ltd which was down 3.69 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Sam Holmes

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