China stocks rise in thin trade ahead of Lunar New Year holiday

China stocks rise in thin trade ahead of Lunar New Year holiday
* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Henan Ancai Hi-tech Co Ltd and losses by Zhongnongfa Seed Industry Group Co Ltd

* China's A-shares are at a 28.61 percent premium over H-shares

SHANGHAI, Feb 14 (Reuters) - China stocks rebounded on Wednesday, but volumes were thin as many traders had already left for the week-long Lunar New Year holiday that starts on Thursday.

Chinese markets will reopen on Feb. 22

** Unnerved by a slump in their stock market in the past two
weeks, many Chinese investors have played it safe by reducing
their equity holdings ahead of the holiday. Others who are
reluctant to scale back their positions say they have hedged
their portfolios via index futures and options.
** At the close, the Shanghai Composite index was up
14.52 points or 0.46 percent at 3,199.48.
** The blue-chip CSI300 index was up 0.8 percent, with its
financial sector sub-index higher by 0.64 percent,
the consumer staples sector up 1.05 percent, the real estate
index up 0.75 percent and healthcare sub-index up 1.12 percent.
** The smaller Shenzhen index ended up 0.48 percent and
the start-up board ChiNext Composite index was
weaker by 0.11 percent.
** Around the region, MSCI's Asia ex-Japan stock index
was firmer by 0.86 percent while Japan's Nikkei
index closed down 0.43 percent.
** At 07:05 GMT, the yuan was quoted at 6.338 per
U.S. dollar, 0.03 percent firmer than the previous close of
** The largest percentage gainers in the main Shanghai Composite
index were Henan Ancai Hi-tech Co Ltd up 10.06
percent, followed by Changchunjingkai Group Co Ltd
gaining 10.04 percent and Hainan Yedao Group Co Ltd
up by 10 percent.
** The largest percentage losses in the Shanghai index were
Zhongnongfa Seed Industry Group Co Ltd down 8.78
percent, followed by Shanghai Shenhua Holdings Co Ltd
losing 8.4 percent and Shanghai Zhongyida Co Ltd
down by 7.17 percent.
** About 10.03 billion shares were traded on the Shanghai
exchange, roughly 45.7 percent of the market's 30-day moving
average of 21.95 billion shares a day. The volume in the
previous trading session was 15.15 billion.
** As of 07:06 GMT, China's A-shares were trading at a
premium of 28.58 percent over the Hong Kong-listed H-shares.
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.
** The price-to-earnings ratio of the Shanghai index was 14.61
as of the last full trading day while the dividend yield was 2
(Reporting by Shanghai Newsroom; Editing by Kim Coghill)

2018-02-14 09:19:44

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