February 5, 2018 / 7:14 AM / in a year

China stocks reverse losses, end higher as banks jump

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Kailuan Energy Chemical Co Ltd and losses by Datang Telecom Technology Co Ltd

* China’s A-shares are at a 32.82 percent premium over H-shares

SHANGHAI, Feb 5 (Reuters) - China stocks recouped early losses sparked by a slide on Wall Street and ended higher on Monday, underpinned by robust gains in banking and transport shares that offset a slump in consumer shares. ** Sentiment was also lifted by a private survey showing China’s services sector got off to a flying start in 2018, expanding at its fastest pace in almost six years. ** An index tracking major listed lenders in China jumped 3.5 percent, posting its best day since March 2016, led by bellwether China Citic Bank surging 9.8 percent, as banks forecast solid results for 2017. ** At the close, the Shanghai Composite index was up 25.30 points or 0.73 percent at 3,487.38. ** The blue-chip CSI300 index was up 0.06 percent, with its financial sector sub-index higher by 1.75 percent, the consumer staples sector down 3.77 percent, the real estate index up 0.29 percent and healthcare sub-index down 1.42 percent. ** The smaller Shenzhen index ended down 0.84 percent and the start-up board ChiNext Composite index was weaker by 0.83 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.36 percent while Japan’s Nikkei index closed down 2.55 percent. ** At 07:01 GMT, the yuan was quoted at 6.297 per U.S. dollar, 0.03 percent firmer than the previous close of 6.299. ** The largest percentage gainers in the main Shanghai Composite index were Kailuan Energy Chemical Co Ltd up 10.05 percent, followed by Xinjiang Talimu Agriculture Development Co Ltd gaining 10.05 percent and Xinjiang Ba Yi Iron & Steel Co Ltd up by 10.03 percent. ** The largest percentage losses in the Shanghai index were Datang Telecom Technology Co Ltd down 10.03 percent, followed by LONGi Green Energy Technology Co Ltd losing 10.01 percent and Zhejiang ChiMin Pharmaceutical Co Ltd down by 10 percent. ** So far this year, the Shanghai stock index is up 4.68 percent, the CSI300 is up 6.03 percent this year, while China’s H-share index listed in Hong Kong is up 15.6 percent. Shanghai stocks have declined 0.54 percent this month. ** About 21.77 billion shares were traded on the Shanghai exchange, roughly 106.0 percent of the market’s 30-day moving average of 20.53 billion shares a day. The volume in the previous trading session was 20.81 billion. ** As of 07:02 GMT, China’s A-shares were trading at a premium of 32.82 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. (Reporting by Shanghai Newsroom; Editing by Kim Coghill)

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