November 13, 2018 / 4:39 AM / 6 months ago

China shares edge up at midday; Hong Kong lower

* SSEC +0.1 pct, CSI300 +0.1 pct, HSI -0.1 pct

* Apple supplier worries weigh on HK tech shares

* Energy firms fall on lower oil prices

* Yuan strengthens with support seen from state-owned banks

SHANGHAI, Nov 13 (Reuters) - Shares in China staged a late-morning rally to move slightly higher at the midday break, with consumer firms overcoming a drag from financial firms, while in Hong Kong tech firms reversed an early slump to trim losses in the broader index.

** At the midday break, the Shanghai Composite index was up 2.94 points, or 0.11 percent, at 2,633.46. ** China’s blue-chip CSI300 index was up 0.13 percent, with its financial sector sub-index higher by 0.02 percent, the consumer staples sector up 1.05 percent, the real estate index up 0.13 percent and the healthcare sub-index up 0.28 percent. ** Chinese H-shares listed in Hong Kong fell 0.3 percent at 10,408.5, while the Hang Seng Index was down 0.1 percent at 25,606.49. ** The sub-index of the Hang Seng index tracking energy shares dipped 1.5 percent amid weak oil prices. ** Apple Inc suppliers fell after warnings on results from three Asian suppliers suggested weakness in iPhone sales. Acoustic component maker AAC Technologies Holdings is 0.28 percent lower at midday, and camera module maker Cowell is down 1.94 percent. ** But tech giant Tencent reversed early sharp losses to end the morning 0.37 percent higher, lifting tech shares battered by recent selling. The Hang Seng IT index is up 0.31 percent at midday. ** The smaller Shenzhen index was up 0.77 percent and the start-up board ChiNext Composite index was higher by 0.99 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.48 percent while Japan’s Nikkei index was down 2.29 percent. ** The yuan was quoted at 6.9549 per U.S. dollar, 0.14 percent firmer than the previous close of 6.9644. Major state-owned Chinese banks were seen selling dollars at around 6.97 per dollar in the onshore spot foreign exchange market in early trade on Tuesday, in an apparent attempt to arrest sharp losses in the local currency. ** The largest percentage gainers in the main Shanghai Composite index were Zhongmin Energy Co Ltd, up 10.13 percent, followed by Guangdong Meiyan Jixiang Hydropower Co Ltd , gaining 10.11 percent and Weifang Yaxing Chemical Co Ltd, up by 10.1 percent. ** The largest percentage losses in the Shanghai index were Jiangsu Seagull Cooling Tower Co Ltd, down 3.86 percent, followed by Zhejiang Huahai Pharmaceutical Co Ltd , losing 3.77 percent and Tianjin Hi-Tech Development Co Ltd, down by 3.31 percent. ** So far this year, the Shanghai stock index is down 20.46 percent, while China’s H-share index is down 10.8 percent. Shanghai stocks have risen 1.07 percent this month. ** The top gainers among H-shares were Hengan International Group Company Ltd, up 2.32 percent, followed by Air China Ltd, gaining 2.25 percent and China Galaxy Securities Co Ltd, up by 2.25 percent. ** The three biggest H-shares percentage decliners were CNOOC Ltd, which has fallen 2.62 percent, China Railway Group Ltd, which has lost 1.7 percent and Postal Savings Bank of China Co Ltd, down by 1.7 percent. ** About 13.08 billion shares have traded so far on the Shanghai exchange, roughly 83.6 percent of the market’s 30-day moving average of 15.65 billion shares a day. The volume traded was 17.50 billion as of the last full trading day. ** As of 04:13 GMT, China’s A-shares were trading at a premium of 18.22 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. ** The price-to-earnings ratio of the Shanghai index was 11 as of the last full trading day, while the dividend yield was 2.9 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.22 percent to 28.14 trillion yuan. ** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, up 3.19 percent, while the biggest loser was CNOOC Ltd, which was down 2.62 percent.

Reporting by Andrew Galbraith; Editing by Gopakumar Warrier

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