January 22, 2018 / 7:16 AM / a month ago

China blue-chip stocks climb to 31-month high as consumer firms jump

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Gome Telecom Equipment Co Ltd and losses by Hna Innovation Co Ltd

* China’s A-shares are at a 27.82 percent premium over H-shares

SHANGHAI, Jan 22 (Reuters) - China stocks extended their rally on Monday, with the blue-chip index scaling a 31-month high, helped by gains in the defensive consumer and healthcare firms as well as a boost from tech shares. ** At the close, the Shanghai Composite index was up 13.50 points or 0.39 percent at 3,501.36, its highest since early 2016. ** The blue-chip CSI300 index was up 1.19 percent, with its financial sector sub-index lower by 0.15 percent , the consumer staples sector up 3.88 percent, the real estate index up 0.8 percent and healthcare sub-index up 1.77 percent. ** The smaller Shenzhen index ended up 1.16 percent and the start-up board ChiNext Composite index rose 2.32 percent. ** Around the region, MSCI’s Asia ex-Japan stock index tacked on 0.1 percent while Japan’s Nikkei index closed up 0.03 percent. ** At 07:01 GMT, the yuan was quoted at 6.4121 per U.S. dollar, 0.14 percent weaker than the previous close of 6.403. ** The largest percentage gainers in the main Shanghai Composite index were Gome Telecom Equipment Co Ltd up 10.04 percent, followed by CCS Supply Chain Management Co Ltd gaining 9.96 percent and Triumph Science & Technology Co Ltd up by 8.4 percent. ** The largest percentage losses in the Shanghai index were Hna Innovation Co Ltd down 10.06 percent, then Easysight Supply Chain Management Co Ltd losing 10.02 percent and Zhejiang Haiyue Co Ltd down 10.02 percent. ** So far this year, the Shanghai stock index is up 5.46 percent, the CSI300 is 7.6 percent higher, while China’s H-share index listed in Hong Kong is up 12.6 percent. ** About 21.75 billion shares were traded on the Shanghai exchange, roughly 126.6 percent of the market’s 30-day moving average of 17.18 billion shares a day. The volume in the previous trading session was 24.75 billion. ** As of 07:02 GMT, China’s A-shares were trading at a premium of 27.82 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day and 200-day moving averages. (Reporting by Shanghai Newsroom; Editing by Shri Navaratnam)

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