August 20, 2018 / 4:52 AM / a year ago

China, Hong Kong stocks firm with yuan; investors await Sino-U.S. talks

* SSEC +0.1 pct, CSI300 +0.2 pct, HSI +0.9 pct

* HK->Shanghai Connect daily quota used 4.7 pct, Shanghai->HK

* daily quota used -0.6 pct

* FTSE China A50 +0.8 pct, BNY Mellon ADR China Select Index +0.3 pct

SHANGHAI, Aug 20 (Reuters) - China and Hong Kong stocks firmed on Monday, tracking other Asian markets, as investors awaited developments on planned Sino-U.S. trade talks and the Chinese yuan moved away from recent lows. ** The CSI300 index was up 0.2 percent at 3,236.16 at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent to 2,671.93. ** The Hang Seng index added 0.9 percent to 27,457.66, while the Hong Kong China Enterprises Index gained 0.8 percent to 10,594.28. ** The yuan reached its highest in a week at 6.8512 per dollar as Beijing acted to prevent a test of the psychologically important 7.0000 level. ** Investors also cheered news that China and the United States will hold lower-level trade talks this month, offering hope that they might resolve an escalating tariff war. ** Reports suggested the talks in Washington would take place on Aug. 21 and 22, just before $16 billion in new U.S. tariffs on Chinese goods take effect. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.68 percent, while Japan’s Nikkei index was down 0.23 percent. ** The yuan was quoted at 6.8478 per U.S. dollar, 0.56 percent firmer than the previous close of 6.8865. ** The largest percentage gainers on the main Shanghai Composite index were China Sports Industry Group Co Ltd, up 10.04 percent, followed by Shanghai Shibei Hi-Tech Co Ltd , gaining 10.04 percent, and Yibin Paper Industry Co Ltd, up by 10.02 percent. ** The largest percentage losers on the Shanghai index were Gansu Gangtai Holding Group Co Ltd, down 10.01 percent, followed by Hylink Digital Solution Co Ltd, losing 10.01 percent, and Sichuan Swellfun Co Ltd, down by 10.01 percent. ** The top gainers among H-shares were Air China Ltd, up 4.51 percent, followed by Byd Co Ltd, gaining 4.38 percent, and Anhui Conch Cement Co Ltd, up by 4.08 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd, which has fallen 3.13 percent, CRRC Corp Ltd, which has lost 3.1 percent, and PICC Property and Casualty Co Ltd, down by 2.1 percent. ** About 6.22 billion shares have traded so far on the Shanghai exchange, roughly 45.3 percent of the market’s 30-day moving average of 13.73 billion shares a day. ** As of 04:27 GMT, China’s A-shares were trading at a premium of 17.25 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.

Reporting by Luoyan Liu and John Ruwitch; Editing by Subhranshu Sahu

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