July 25, 2019 / 4:32 AM / 4 months ago

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

* SSEC 0.3%, CSI300 0.5%, HSI 0.3%

* HK->Shanghai Connect daily quota used 3.3%

* Shanghai->HK daily quota used 1.5%

* FTSE China A50 +0.6%

SHANGHAI, July 25 (Reuters) - China and Hong Kong stocks firmed on Thursday morning, 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 for the new field of capital reform.

** The CSI300 index rose 0.5% to 3,838.23 at the end of the morning session, while the Shanghai Composite Index gained 0.3% to 2,931.90.

** The Hang Seng index added 0.3% to 28,610.88, while the Hong Kong China Enterprises Index gained 0.6% to 10,922.22.

** 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 added 1.6%.

** In Hong Kong, technology stocks were also in focus, with the Hang Seng IT index climbing 1.4% by midday.

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

** Average gains for the 25 newly-listed stocks were 6.1% for the day.

** Shares in Beijing Tianyishangjia New Material led the advance, surging as much as 28.2%.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.18% while Japan’s Nikkei index was up 0.36%.

** The yuan was quoted at 6.8762 per U.S. dollar, 0.05% weaker than the previous close of 6.873.

** The largest percentage gainers in 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 Bomin Electronics Co Ltd, up by 9.99%.

** The largest percentage losers in the Shanghai index were FUREN Group Pharmaceutical Co Ltd, down 10.02%, followed by Xinjiang Xuefeng Sci-Tech Group Co Ltd, losing 6.67% and Jiangsu Xinri E-Vehicle Co Ltd, down by 6.6%.

** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd, up 4.2%, followed by China Merchants Bank Co Ltd, gaining 3.41% and Huatai Securities Co Ltd , up by 1.85%.

** The three biggest H-shares percentage decliners were Longfor Group Holdings Ltd, which has fallen 1.47%, China Telecom Corp Ltd, which has lost 1.1% and China Resources Beer Holdings Co Ltd, down by 0.8%.

** About 8.27 billion shares were traded on the Shanghai exchange, roughly 44.6% 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 04:15 GMT, China’s A-shares were trading at a premium of 28.07% over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; editing by Gopakumar Warrier

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