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China stocks rise on report of stimulus plan; Hong Kong down

11/18/2020 | 11:39pm EST

* SSEC +0.1%, CSI300 +0.4%, HSI -0.6%

* HK->Shanghai Connect daily quota used 1.4%, Shanghai->HK daily quota used 3.4%

* FTSE China A50 +0.7%

SHANGHAI, Nov 19 (Reuters) - Chinese shares gained ground on Thursday, led by consumer stocks, as investors cheered a report of Beijing's latest measures to boost domestic consumption amid the coronavirus outbreak.

** The CSI300 index rose 0.4% to 4,912.26 points at the end of the morning session, while the Shanghai Composite Index gained 0.1% to 3,351.09 points.

** The tech-heavy start-up board ChiNext and the STAR50 index added 0.7% and 0.6%, respectively.

** Consumer shares led the rally, with the CSI300 consumer staples index and the CSI300 consumer discretionary index rising 1.3% and 1.4%, respectively by midday.

** China will expand consumption of cars and consumption in rural areas, according to a report by state broadcaster CCTV, citing a meeting of the country's cabinet chaired by Premier Li Keqiang.

** China will also promote the consumption of home appliances and catering, CCTV reported.

** Dual-listed Guangzhou Automobile Group Co Ltd rose more than 4% in both Shanghai and Hong Kong, leading the gains for carmakers.

** Bucking the broad strength, securities firms fell, led by Haitong Securities Co Ltd falling 6.1% in Shanghai after Beijing alleged manipulation.

** Chinese investigations into last week's shock bond default by a state-owned coal miner widened on Wednesday with a regulator threatening to sanction Haitong Securities, one of the country's biggest brokerages, for alleged manipulation.

** The Hang Seng index dropped 0.6%, to 26,394.26 points, while the Hong Kong China Enterprises Index lost 0.7%, to 10,566.52.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.51%, while Japan's Nikkei index closed down 0.81%.

** At 0421 GMT, the yuan was quoted at 6.5686 per U.S. dollar, 0.15% weaker than the previous close of 6.559. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Ramakrishnan M.)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GUANGZHOU AUTOMOBILE GROUP CO., LTD. 19.49% 9.38 End-of-day quote.8.82%
HAITONG SECURITIES CO., LTD. 0.08% 12.84 End-of-day quote.-0.16%
HANG SENG 0.79% 28847.93 Real-time Quote.5.10%
HENAN MINGTAI AL.INDUSTRIAL CO., LTD. -2.00% 15.67 End-of-day quote.10.82%
IREADER TECHNOLOGY CO., LTD. -1.70% 30.6 End-of-day quote.-8.93%
KUAIJISHAN SHAOXING RICE WINE CO., LTD. 1.30% 10.91 End-of-day quote.-21.17%
NIKKEI 225 -0.97% 28242.21 Real-time Quote.3.92%
QIBU CO.,LTD. 2.48% 7.85 End-of-day quote.-13.74%
SHANGHAI PHOENIX ENTERPRISE (GROUP) CO., LTD. 0.64% 12.54 End-of-day quote.-9.20%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.27% 6.49777 Delayed Quote.-0.35%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.19% 6.4927 Delayed Quote.-0.69%
ZHEJIANG GUYUELONGSHAN SHAOXING WINE CO., LTD. -2.03% 14.47 End-of-day quote.-14.93%
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