SHANGHAI: China and Hong Kong stocks rose on Tuesday morning, as trade war fears eased on reports of behind-the-scenes talks between the United States and China.
At 04:01 GMT, the Shanghai Composite index was up 30.30 points, or 0.97 percent, at 3,164.02, while China's blue-chip CSI300 index was up 0.85 percent at 3,912.76.
Chinese H-shares listed in Hong Kong rose 0.88 percent at 12,305.58, while the Hang Seng Index was up 0.91 percent at 30,826.46.
The smaller Shenzhen index was up 2.21 percent and the start-up board ChiNext Composite index was higher by 3.44 percent.
Top White House officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more US-made semiconductors in negotiations to avoid plans to slap tariffs on a host of Chinese goods and a potential trade war.
Chinese Premier Li Keqiang said on Monday China and the United States should maintain negotiations and he reiterated pledges to ease access for American businesses, as China scrambles to avert a trade war.
The market seemed to be unfazed by data showing profit growth for China's industrial firms in the first two months of the year slowed from 2017.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 1.00 percent, while Japan's Nikkei index was up 2.22 percent.
The yuan was quoted at 6.2602 per US dollar, 0.33 percent firmer than the previous close of 6.2807.
The largest percentage gainers in the main Shanghai Composite index were Changchunjingkai Group Co Ltd up 10.04 percent, followed by JiLin Sino-Microelectronics Co Ltd gaining 10.04 percent and Sinomach Automobile Co Ltd up by 10.03 percent.
The largest percentage losers in the Shanghai index were Harbin High-Tech Group Co Ltd down 6.15 percent, followed by HUAYU Automotive Systems Co Ltd losing 3.99 percent and Gansu Dunhuang Seed Co Ltd down by 3.45 percent.
The top gainers among H-shares were SINOPHARM GROUP CO LTD up 6.25 percent, followed by China Vanke Co Ltd gaining 3.4 percent and China Gas Holdings Ltd up by 2.84 percent.
The three biggest H-shares percentage decliners were PICC Property and Casualty Co Ltd which has fallen 1.72 percent, China Petroleum & Chemical Corp which has lost 1.1 percent and People's Insurance Group of China Co Ltd down by 1.0 percent.
About 11.09 billion shares have traded so far on the Shanghai exchange, roughly 63.6 percent of the market's 30-day moving average of 17.43 billion shares a day. The volume traded was 18.64 billion as of the last full trading day.
As of 04:02 GMT, China's A-shares were trading at a premium of 24.06 percent over the Hong Kong-listed H-shares.
Comments
Comments are closed for this article.