June 12, 2018 / 4:18 AM / 6 months ago

China, Hong Kong stocks rise as Trump-Kim summit in focus

* SSEC 0.5 pct, CSI300 0.8 pct, HSI 0.3 pct

* HK->Shanghai Connect daily quota used 2 pct, Shanghai->HK daily quota used 0.7 pct

* FTSE China A50 +1.0 pct, BNY Mellon ADR China Select Index +0.6 pct

SHANGHAI, June 12 (Reuters) - China and Hong Kong stocks rose on Tuesday, amid hopes that the closely-watched U.S.-North Korea summit can pave the way towards ending a nuclear stand-off on the Korean peninsula. ** U.S. President Donald Trump said he had forged a “good relationship” with North Korean leader Kim Jong Un at the start of a historic summit in Singapore on Tuesday, as the two men sought ways to end the nuclear standoff. ** The Hang Seng index added 0.3 percent to 31,152.00 points by the lunch break, while the Hong Kong China Enterprises Index gained 0.5 percent to 12,228.58 points. ** The CSI300 index rose 0.8 percent to 3,810.81 points, while the Shanghai Composite Index gained 0.5 percent to 3,066.81. ** On the mainland, gains were led by consumer and transport firms, though caution still prevailed, with more than 10 stocks plunging to the lower limit of 10 percent, as investors worried about liquidity conditions amid credit risks and more listings by technology giants that could sap already tight funding. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.09 percent, while Japan’s Nikkei index was up 0.39 percent. ** The yuan was quoted at 6.4039 per U.S. dollar, 0.01 percent firmer than the previous close of 6.4047. ** The largest percentage gainers on the main Shanghai Composite index were Shanghai Laiyifen Co Ltd up 10.02 percent, followed by Chongqing Wanli New Energy Co Ltd gaining 10.02 percent and BanBao Co Ltd up by 9.99 percent. ** The largest percentage losers on the Shanghai index were Henan Rebecca Hair Products Co Ltd down 10 percent, followed by Shandong Hiking International Co Ltd losing 9.86 percent and YAPP Automotive Systems Co Ltd down by 8.03 percent. ** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 3.89 percent, followed by Shenzhou International Group Holdings Ltd gaining 3.74 percent and Air China Ltd up by 3.27 percent. ** The three biggest H-shares percentage decliners were Sinopharm Group Co Ltd which has fallen 1.71 percent, Byd Co Ltd which lost 1.7 percent and China Railway Group Ltd down by 1.3 percent. ** About 5.97 billion shares traded so far on the Shanghai exchange, roughly 45.2 percent of the market’s 30-day moving average of 13.22 billion shares a day. The volume traded was 10.86 billion as of the last full trading day. ** As of 04:01 GMT, China’s A-shares were trading at a premium of 17.11 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day and 200-day moving averages. ** The price-to-earnings ratio of the Shanghai index was 13.1 as of the last full trading day while the dividend yield was 2.5 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by 0.38 percent to 31.62 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 1.6 percent while the IT sector rose 0.1 percent. The top gainer on the Hang Seng was CSPC Pharmaceutical Group Ltd up 3.89 percent, while the biggest loser was WH Group Ltd which was down 4.30 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Biju Dwarakanath

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