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China stocks rise on boost from liquor companies

09/10/2020 | 12:57am EST

SHANGHAI, Sept 10 (Reuters) - China stocks rose on Thursday lifted by liquor companies, as Wall Street snapped a three-day losing streak overnight.

** At the midday break, the Shanghai Composite index was up 0.29% at 3,264.19 points. China's blue-chip CSI300 index rose 0.82%. ** The CSI300 consumer staples sector jumped 1.41% as China's biggest liquor makers hit all-time highs as many of them announced price hikes in recent sessions. ** Analysts said higher upward retail price adjustments were reflecting recovering demand and as the "golden week" National Day holiday also loomed. ** China's largest liquor maker, Kweichow Moutai Co, rose as much as 3% to hit an all-time high and the country's No.2 liquor maker Wuliangye Yibin Co gained as much as 2.93% in the morning session.

** The main U.S. indexes rose on Thursday as investors jumped back in to take advantage of the pullback in tech-related stocks. ** That helped China's start-up board ChiNext, which is up more than 40% this year, gain 0.24% and Shanghai's tech-focused STAR50 index climb 0.45%.

** Chinese financial technology firm Ant Group's application for a local IPO on a Nasdaq-style market will be reviewed on Sept. 18, the Shanghai stock exchange said on Wednesday, bringing the company closer to its up to $30 billion dual-listing.

** Chinese H-shares listed in Hong Kong rose 0.11% to 9,739.54, while the Hang Seng Index gained 0.04% at 24,478.69. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.72%, while Japan's Nikkei index rose 0.66%. ** The yuan was quoted at 6.8385 per U.S. dollar, 0.1% weaker than the previous close of 6.832. ** This year, the Shanghai stock index is up 7% and the CSI300 has risen 12.8%, while China's H-share index listed in Hong Kong is down 12.8%. Shanghai stocks have declined 3.87% this month.

(Reporting by Winni Zhou and Andrew Galbraith; Editing by Amy Caren Daniel)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA CONSTRUCTION BANK CORPORATION 2.14% 6.69 End-of-day quote.6.53%
CHINA GAS HOLDINGS LIMITED 0.16% 31.9 End-of-day quote.3.57%
CHINA SHENHUA ENERGY COMPANY LIMITED 0.59% 18.73 End-of-day quote.4.00%
GUANGHUI LOGISTICS CO.LTD -0.44% 4.54 End-of-day quote.-6.00%
HANG SENG 0.39% 28620.49 Real-time Quote.5.10%
KWEICHOW MOUTAI CO.,LTD. -2.44% 2082 End-of-day quote.4.20%
MEITUAN DIANPING -1.79% 307.6 End-of-day quote.4.41%
MSCI AC ASIA EX JAPAN (STRD, UHD) -0.64% 891.357 Real-time Quote.6.43%
NIKKEI 225 -0.62% 28519.18 Real-time Quote.3.92%
NINGBO PEACEBIRD FASHION CO., LTD. 1.81% 33.1 End-of-day quote.10.33%
PICC PROPERTY AND CASUALTY COMPANY LIMITED 1.14% 6.21 End-of-day quote.5.79%
SICHUANHEBANG BIOTECHNOLOGY CO.,LTD. 0.75% 1.35 End-of-day quote.-4.93%
TENCENT HOLDINGS LIMITED 2.46% 645 End-of-day quote.14.36%
WULIANGYE YIBIN CO.,LTD. -0.59% 287.7 End-of-day quote.-1.42%
XIAOMI CORPORATION -10.26% 29.3 End-of-day quote.-11.75%
XISHUI STRONG YEAR CO.,LTD INNER MONGOLIA 0.40% 5.01 End-of-day quote.-11.64%
ZHEJIANG TIANTAI XIANGHE INDUSTRIAL CO., LTD. 9.96% 12.14 End-of-day quote.7.15%
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