April 4, 2019 / 4:40 AM / 7 months ago

China stocks rise on trade deal hopes, airline strength; Hong Kong shares pause

SHANGHAI, April 4 (Reuters) - China stocks rose on Thursday amid more signs of progress in the Sino-U.S. trade talks, while surging airline stocks on government stimulus also aided investor sentiment.

** Hong Kong stocks dipped with investors taking a break after seven consecutive sessions of gains.

** The CSI300 index rose 0.6 percent, to 4,046.44 points, at the end of the morning session, while the Shanghai Composite Index also gained 0.6 percent, to 3,234.41 points.

** The Hang Seng index dropped 0.5 percent, to 29,831.25 points. The Hong Kong China Enterprises Index lost 0.4 percent, to 11,653.68 points.

** Hopes for a trade deal between the world’s top two economies continued to bolster stocks. Trade talks between the United States and China made “good headway” last week in Beijing and the two sides aim to bridge differences during talks that could extend beyond three days this week, White House economic adviser Larry Kudlow said.

** Shares in Chinese airlines surged on Thursday, after state media said Beijing would halve the levy standards of the civil aviation development funds from July 1. It’s part of a broader government pledge to pare trillions in taxes and fees this year.

** Shares of China Eastern Airlines Co Ltd, China Southern Airlines Co Ltd, Air China Ltd, Juneyao Airlines Co Ltd and Spring Airlines Co Ltd all jumped.

Reporting by Samuel Shen and Andrew Galbraith; Editing by Subhranshu Sahu

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