August 21, 2018 / 4:25 AM / a month ago

China stocks extend rebound as healthcare, consumer firms rally; Hong Kong up

* SSEC 1.4 pct, CSI300 1.9 pct, HSI 0.5 pct

* HK->Shanghai Connect daily quota used 2.9 pct

* FTSE China A50 +2.0 pct, BNY Mellon ADR China Select +1.6 pct

SHANGHAI, Aug 21 (Reuters) - China stocks extended rebound on Tuesday, aided by strong gains in consumer and healthcare firms, as investors hunted for bargains after recent losses. ** The CSI300 index rose 1.9 percent to 3,329.08 points at the end of the morning session, while the Shanghai Composite Index gained 1.4 percent, to 2,737.13 points. ** Sectors rallied across the board, led by consumer and healthcare firms. ** The index tracking consumer firms jumped 3.8 percent, while the healthcare index climbed 3.4 percent. ** All eyes are on lower-level trade talks, due to start this week, between the United States and China. ** U.S. President Donald Trump does not expect much progress from trade talks with China this week in Washington, he told Reuters on Monday. ** The Hang Seng index added 0.5 percent to 27,729.63 points, while the Hong Kong China Enterprises Index gained 1.1 percent, to 10,743.66 points. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.64 percent while Japan’s Nikkei index was up 0.41 percent. ** The yuan was quoted at 6.8408 per U.S. dollar, 0.34 percent firmer than the previous close of 6.864. ** The largest percentage gainers in the main Shanghai Composite index were BEH-Property Co Ltd up 10.13 percent, followed by Shanghai Aerospace Automobile Electromechanical Co Ltd gaining 10.05 percent and Yibin Paper Industry Co Ltd up by 10.02 percent. ** The largest percentage losses in the Shanghai index were MeiDu Energy Corp down 10.09 percent, followed by Gansu Gangtai Holding Group Co Ltd losing 10.02 percent and Shangying Global Co Ltd down by 10.01 percent. ** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 10.77 percent, followed by ZhongAn Online P & C Insurance Co Ltd gaining 8.39 percent and Great Wall Motor Co Ltd up by 6.21 percent. ** The three biggest H-shares percentage decliners were Sinopharm Group Co Ltd which has fallen 1.40 percent, China Mobile Ltd which has lost 0.9 percent and Postal Savings Bank of China Co Ltd down by 0.8 percent. ** About 6.89 billion shares have traded so far on the Shanghai exchange, roughly 50.3 percent of the market’s 30-day moving average of 13.69 billion shares a day. The volume traded was 11.08 billion as of the last full trading day. ** As of 04:04 GMT, China’s A-shares were trading at a premium of 17.71 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 11.74 as of the last full trading day while the dividend yield was 2.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.20 percent to 28.69 trillion yuan.

Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair

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