January 5, 2018 / 4:18 AM / 3 months ago

China and Hong Kong shares keep climbing, developers lend support

SHANGHAI, Jan 5 (Reuters) - China and Hong Kong stocks extended their New Year rally on Friday, underpinned by robust gains in real estate firms.

** At 04:02 GMT, the Shanghai Composite index was up 7.95 points or 0.23 percent at 3,393.66. ** China’s blue-chip CSI300 index was up 0.24 percent, with its financial sector sub-index higher by 0.61 percent, the consumer staples sector down 0.4 percent , the real estate index up 4.77 percent and healthcare sub-index up 0.14 percent. ** Chinese H-shares listed in Hong Kong rose 0.19 percent at 12,226.95, while the Hang Seng Index was up 0.18 percent at 30,791.59. ** The smaller Shenzhen index was up 0.16 percent and the start-up board ChiNext Composite index was higher by 0.54 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.47 percent while Japan’s Nikkei index was up 0.51 percent. ** The yuan was quoted at 6.4812 per U.S. dollar, 0.2 percent firmer than the previous close of 6.494. ** The largest percentage gainers in the main Shanghai Composite index were Tsingtao Brewery Co Ltd up 10.01 percent, followed by Greenland Holdings Corp Ltd gaining 9.96 percent and Shanghai Shimao Co Ltd up by 8.82 percent. ** The largest percentage losses in the Shanghai index were Shanghai Jiaoda Onlly Co Ltd down 10.04 percent, followed by SJEC Corp losing 8.25 percent and BOCO Inter-Telecom Co Ltd down by 5.05 percent. ** So far this year, the Shanghai stock index is up 2.37 percent, while China’s H-share index is up 4.2 percent. Shanghai stocks have risen 2.37 percent this month. ** The top gainers among H-shares were China Vanke Co Ltd up 7.25 percent, followed by China Petroleum & Chemical Corp gaining 2.12 percent and China Railway Group Ltd up by 1.86 percent. ** The three biggest H-shares percentage decliners were Byd Co Ltd which has fallen 1.56 percent, China Pacific Insurance Group Co Ltd which has lost 1.3 percent and Guangzhou Automobile Group Co Ltd down by 1.2 percent. ** About 11.58 billion shares have traded so far on the Shanghai exchange, roughly 75.8 percent of the market’s 30-day moving average of 15.28 billion shares a day. The volume traded was 20.70 billion as of the last full trading day. ** As of 04:02 GMT, China’s A-shares were trading at a premium of 27.94 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. ** The price-to-earnings ratio of the Shanghai index was 15.24 as of the last full trading day while the dividend yield was 1.9 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 2.59 percent to 29.65 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.8 percent while the IT sector fell 0.1 percent. The top gainer on Hang Seng was Country Garden Holdings Company Ltd up 5.28 percent, while the biggest loser was Hengan International Group Company Ltd which was down 3.28 percent.

Reporting by Samuel Shen and John Ruwitch; Editing by Kim Coghill

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