China stocks rise as commodities shine; Hong Kong snaps winning streak

Reuters04-11

By Summer Zhen

HONG KONG, April 11 (Reuters) - China shares rose on Thursday as strong performances in copper and gold miners offset the drag from weak consumer data, while Hong Kong stocks tracked overnight losses in Wall Street.

** At the midday break, the Shanghai Composite index was up 0.4% at 3,038.58 points.

** China released worse-than-expected March consumer data on Thursday, maintaining pressure on policymakers to launch more stimulus as demand remains weak.

** Yet a rally in global commodities has lifted the CSI Coal Index and the A-share Resources Index by 2% and 1.7%, respectively.

** Hong Kong stocks snapped a three-day winning streak as U.S. sticky inflation numbers diminished rate-cut hopes and dragged down U.S. shares overnight.

** China's blue-chip CSI300 index was flat, with its financial sector sub-index losing 0.23%, the consumer staples sector down 0.86%, the real estate index dropped nearly 1% and the healthcare sub-index slipped 1.04%.

** Chinese H-shares listed in Hong Kong fell 0.7% to 5,974.63, while the Hang Seng Index was down 0.76% at 17,009.49.

** The smaller Shenzhen index was up 0.3%, the start-up board ChiNext Composite index was weaker by 0.37% and Shanghai's tech-focused STAR50 index was up 0.61%​.

** Around the region, MSCI's Asia ex-Japan stock index

was weaker by 0.53% while Japan's Nikkei index

was down 0.54%.

** The yuan was quoted at 7.2361 per U.S. dollar, 0.02% weaker than the previous close of 7.2345.

** The largest percentage gainers in the main Shanghai Composite index were Xiamen XGMA Machinery Co Ltd , up 10.12%, followed by Shaanxi Construction Machinery Co Ltd

, gaining 10.06% and Xinjiang Baodi Mining Co Ltd

, up by 10.05%.

** The largest percentage losses in the Shanghai index were Sanxiang Advanced Materials Co Ltd , down 10.018%, followed by Dali Pharmaceutical Co Ltd , losing 9.974% and SEC Electric Machinery Co Ltd , down by 9.974%.

** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 1.3%, while the IT sector

fell 0.6%.

(Reporting by Summer Zhen; Editing by Sherry Jacob-Phillips)

((summer.zhen@thomsonreuters.com; 852-3462-7739;))

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