July 25, 2019 / 7:42 AM / 4 months ago

China stocks rise on trade, tech boost; STAR board extends rally

* SSEC 0.5%, CSI300 0.8%, HSI 0.2%

* HK->Shanghai Connect daily quota used 3.8%, Shanghai->HK daily quota used 2.1%

* FTSE China A50 +1.0%

SHANGHAI, July 25 (Reuters) - China stocks ended higher on Thursday, bolstered by technology shares, even as investors cheered potential progress in Sino-U.S. trade talks.

Stocks on the new STAR board extended gains, as investors remained enthusiastic about the new field of capital reform.

** The blue-chip CSI300 index rose 0.8%, to 3,851.07, while the Shanghai Composite Index gained 0.5% to 2,937.36.

** Top U.S. and Chinese negotiators will meet face-to-face next week for the first time since Presidents Donald Trump and Xi Jinping agreed to revive talks to end their year-long trade war.

** The governments of the world’s largest economies have levied billions of dollars of tariffs on each other’s imports, disrupting global supply chains and shaking financial markets in their dispute over how China does business with the rest of the world.

** Leading gains on the mainland, the CSI information technology index gained 2.2%, while and index tracking major telecommunications firms closed up 1.1%.

** Shares continued to rally on the Nasdaq-style STAR Market, with 23 of the 25 stocks posting gains.

** Topping the charts, shares in Suzhou TZTEK Technology surged as much as 19.3% before ending 15% higher.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.25%, while Japan’s Nikkei index was up 0.22%.

** The yuan was quoted at 6.8748 per U.S. dollar, 0.03% weaker than the previous close of 6.873.

** The largest percentage gainers on the main Shanghai Composite index were Sichuan Furong Technology Co Ltd , up 10.02%, followed by Shanxi Coal International Energy Group Co Ltd, gaining 10.02% and Shanghai Sunglow Packaging Technology Co Ltd Co Ltd, up by 10.02%.

** The largest percentage losers on the Shanghai index were FUREN Group Pharmaceutical Co Ltd, down 10.02%, followed by Xinjiang Xuefeng Sci-Tech Group Co Ltd, losing 8.82% and Jiangsu Xinri E-Vehicle Co Ltd, shedding 6.6%.

** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd, up 6%, followed by China Merchants Bank Co Ltd, gaining 3.41% and China Vanke Co Ltd, up by 1.97%.

** The three biggest H-shares percentage decliners were China Telecom Corp Ltd, which fell 0.82%, Byd Co Ltd , which lost 0.8% and China Communications Construction Co Ltd, down 0.7%.

** About 14.57 billion shares have traded so far on the Shanghai exchange, roughly 78.6% of the market’s 30-day moving average of 18.53 billion shares a day. The volume traded was 15.52 billion as of the last full trading day.

** As of 07:18 GMT, China’s A-shares were trading at a premium of 28.16% over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom)

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