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Hong Kong shares rise, led by Tencent; Shanghai index flat
November 16, 2017 / 4:51 AM / a month ago

Hong Kong shares rise, led by Tencent; Shanghai index flat

* SSEC -0.1 pct, CSI300 +0.3 pct, HSI +0.5 pct

* Tencent rises over 2 pct after posting 69 pct jump in Q3 profit

* HK->Shanghai Connect daily quota used 1.1 pct, Shanghai->HK daily quota used 11.8 pct

SHANGHAI, Nov 16 (Reuters) - Hong Kong stocks were firm on Thursday, helped by index heavyweight Tencent Holdings, which surged after posting solid third-quarter results.

Stock markets in China were mixed as strength in consumer stocks was offset by weakness in resource plays.

The Hang Seng index added 0.5 percent to 29,005.00 points and the Hong Kong China Enterprises Index gained 0.6 percent, to 11,479.65.

Shares of Chinese internet giant Tencent, which is only listed in Hong Kong, rose more than 2 percent, as Asia’s most valuable company beat expectations by reporting a 69 percent jump in quarterly net profit.

The sub-index of the Hang Seng index tracking energy shares slipped 0.2 percent while the IT sector rose 1.8 percent.

The top gainers among H-shares were China Pacific Insurance Group Co Ltd up 3.45 percent, followed by New China Life Insurance Co Ltd gaining 3.4 percent and Ping An Insurance Group Co of China Ltd up by 3.39 percent.

The three biggest H-shares percentage decliners were Huaneng Power International Inc which has fallen 2.02 percent, Sinopharm Group Co Ltd which has lost 1.3 percent and China Shenhua Energy Co Ltd, down by 1.1 percent.

CHINA

In China, the blue-chip CSI300 index rose 0.3 percent, to 4,085.33 points at the end of the morning, while the Shanghai Composite Index shed 0.1 percent, to 3,399.10 points.

The largest percentage gainers in the main Shanghai Composite index were SJEC Corp up 9.98 percent, followed by Maoye Commercial Co Ltd gaining 9.37 percent and China Sports Industry Group Co Ltd up by 7.01 percent.

The index’s largest percentage losers were Tederic Machinery Co Ltd down 7.18 percent, followed by Hubei Mailyard Share Co Ltd losing 6.16 percent and Keda Clean Energy Co Ltd down by 5.68 percent.

So far this year, the Shanghai stock index is up 9.63 percent, while China’s H-share index is up 21.5 percent. Shanghai stocks have risen 0.3 percent this month.

Reporting by Samuel Shen and John Ruwitch; Editing by Richard Borsuk

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