China stocks flat as investors book profits; Hong Kong up

SHANGHAI: China's major stock indexes were little changed on Friday as investors took a breather following recent gains, but were set to end the week higher.

** The CSI300 index fell 0.1% to 5,333.35 points at the end of the morning session, while the Shanghai Composite Index was unchanged at 3,609.03 points.

** There were signs of profit-taking after strong gains in the past sessions. For the week, CSI300 gained 3.9% by midday, while SSEC added 3.5%.

** The smaller Shenzhen index was up 0.23%, the start-up board ChiNext Composite index was higher by 1.35% and Shanghai's tech-focused STAR50 index was up 0.23%.

** Investors looked past fresh strains in Sino-US relations after the US Senate on Thursday advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese technology.

** Chinese- and Hong Kong-listed resources firms gained after reports that US President Joe Biden will seek $6 trillion in federal spending for the 2022 fiscal year.

** The Hang Seng index added 0.6% to 29,297.18 points, while the Hong Kong China Enterprises Index rose 0.2% to 10,867.78.

** JD Logistics Inc soared on debut, giving the Chinese delivery and warehousing firm a $36 billion stock market value and providing a strong start on Friday for what is only the third mega listing in Hong Kong so far this year.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.71% while Japan's Nikkei index was up 2.12%.

** The yuan was quoted at 6.3686 per US dollar, 0.24% firmer than the previous close of 6.384.