China shares up on Stock Connect inflows; financials drag Hang Seng

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  • SSEC +0.63%, CSI300 +0.97%, HSI 0.59%
  • Inbound flows to A-shares exceed $1.62bln -Refinitiv
  • HSBC biggest drag on Hang Seng, down 2.49%

SHANGHAI, Feb 25 (Reuters) - Chinese stock indexes rose on Friday as buying by foreign investors boosted healthcare, new energy and consumer staples firms, a day after the blue-chip index recorded its biggest drop in a month sparked by Russia's invasion of Ukraine.

** The Shanghai Composite index (.SSEC) finished the day up 0.63% at 3,451.41 points.

** China's blue-chip CSI300 index (.CSI300) closed up 0.97%, with the consumer staples sector (.CSI000912) gaining 1.28%, info tech shares (.CSIINT) climbing 0.96% and the healthcare sub-index (.CSI300HC) adding 3.48%.

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** Gains in the CSI300 were led by battery maker Contemporary Amperex Technology (CATL) (300750.SZ), up 4.16%, and distiller Kweichow Moutai (600519.SS), which was 1.98% higher.

** CATL's gains pushed the CSI New Energy Vehicle index (.CSI399976) up 2.37%.

** "The recent correction in the new energy sector is quite adequate and the mid- and long-term fundamentals remain bullish," said Zhang Yanbing, an analyst with Zheshang Securities.

** CATL and Moutai were the two most-traded securities through the Stock Connect programme linking mainland markets to global investors through Hong Kong, according to HKEx data.

** Inflows through the Northbound leg of Stock Connect on Friday morning totalled 10.25 billion yuan ($1.62 billion), according to Refinitiv data. (.NQUOTA.SH), (.NQUOTA.ZK)

** Net purchases through Stock Connect were the highest since Jan. 21, according to financial data service Eastmoney.

** In Hong Kong, the Hang Seng index (.HSI) ended down 134.38 points or 0.59% at 22,767.18. The Hang Seng China Enterprises index (.HSCE) fell 0.49% to 7,991.64.

** The sub-index of the Hang Seng tracking energy shares (.HSCIE) dipped 3.7%, weighed by a 3.16% drop in Chinese state oil giant CNOOC Ltd .

** The financial sector (.HSNF) ended 1.44% lower, with a 2.49% fall by HSBC Holdings the biggest drag on the Hang Seng as investors weigh the impact on banks of Russia's invasion of Ukraine.

** Underscoring efforts to stabilise slowing growth, China's central bank made the biggest weekly cash injection in more than two years this week to maintain stable liquidity conditions toward month-end.

** The smaller Shenzhen index (.SZSC) finished up 1.21%, the start-up board ChiNext Composite index (.CNT) rose 2.58% and Shanghai's tech-focused STAR50 index (.STAR50) closed 2.13% higher.

** A growing number of Chinese firms with business in Ukraine or Russia say the impact from the region's crisis is limited for now, as some sought to reassure investors, with the scale of Chinese investment in the region limited and dominated by state firms. read more

** The yuan was quoted at 6.3140 per U.S. dollar, firmer than Thursday's close of 6.3299.

($1 = 6.3121 Chinese yuan)

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Reporting by Andrew Galbraith; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.