January 26, 2018 / 4:23 AM / 7 months ago

Hong Kong stocks power to new high led by property, IT firms, China also up

* SSEC 0.5 pct, CSI300 0.5 pct, HSI 1.3 pct

* HK->Shanghai Connect daily quota used 4.6 pct, Shanghai->HK daily quota used 6.3 pct

* FTSE China A50 +0.8 pct, BNY Mellon ADR China Select Index +0.7 pct

SHANGHAI, Jan 26 (Reuters) - Hong Kong stocks recouped their losses from the previous session and hit a new peak, poised to record their seventh straight week of gains, bolstered by a strong rally in property and IT firms. ** At 04:02 GMT, the Shanghai Composite index was up 16.33 points, or 0.46 percent, at 3,564.63. ** China’s blue-chip CSI300 index was up 0.53 percent, with its financial sector sub-index higher by 1.22 percent, the consumer staples sector up 0.1 percent, the real estate index up 2.17 percent and healthcare sub-index up 0.32 percent. ** Chinese H-shares listed in Hong Kong rose 2.17 percent at 13,678.45, while the Hang Seng Index was up 1.31 percent at 33,083.80. ** The smaller Shenzhen index was unchanged for the day and the start-up board ChiNext Composite index was higher by 0.46 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.21 percent while Japan’s Nikkei index was down 0.12 percent. ** The yuan was quoted at 6.328 per U.S. dollar, 0.06 percent firmer than the previous close of 6.3315. ** The largest percentage gainers in the main Shanghai Composite index were Huafa Industrial Co Ltd Zhuhai up 9.13 percent, followed by ShanXi Coking Co Ltd gaining 7.61 percent and Shanghai Fudan Forward S&T Co Ltd up by 6.54 percent. ** The largest percentage losses in the Shanghai index were Nanjing Textiles Import & Export Corp Ltd down 9.71 percent, followed by Jiangsu Protruly Vision Technology Group Co Ltd losing 5.1 percent and Shenghe Resources Holding Co Ltd down by 3.93 percent. ** So far this year, the Shanghai stock index is up 7.29 percent, while China’s H-share index is up 14.3 percent. ** The top gainers among H-shares were China Minsheng Banking Corp Ltd up 4.96 percent, followed by Postal Savings Bank of China Co Ltd gaining 4.49 percent and China Construction Bank Corp up by 4.2 percent. ** The three biggest H-shares percentage decliners were China Petroleum & Chemical Corp, which has fallen 2.01 percent, PetroChina Co Ltd which has lost 1.4 percent and Guangzhou Automobile Group Co Ltd down by 1.3 percent. ** About 11.37 billion shares have traded so far on the Shanghai exchange, roughly 60.9 percent of the market’s 30-day moving average of 18.69 billion shares a day. The volume traded was 24.34 billion as of the last full trading day. ** As of 04:02 GMT, China’s A-shares were trading at a premium of 28.87 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 16.13 as of the last full trading day while the dividend yield was 1.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.86 percent to 31.21 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 1.6 percent while the IT sector rose 2.1 percent. The top gainer on Hang Seng was China Construction Bank Corp up 4.2 percent, while the biggest loser was CNOOC Ltd which was down 2.95 percent. (Reporting by Luoyan Liu and John Ruwitch; Editing by Sam Holmes)

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