China stocks extend rally; Hong Kong also up

China and Hong Kong stocks rose further on Wednesday. At 04:02 GMT, the Shanghai Composite index was up 30.46 points or 0.91 per cent at 3,378.79. China's blue-chip CSI300 index was up 1.24 per cent. The financial sector sub-index was 1.1 per cent higher, the consumer staples sector was up 1.67 per cent, the real estate index was up 1.69 per cent and healthcare sub-index was up 0.77 per cent.

Chinese H-shares listed in Hong Kong rose 0.5 per cent to 12,129.07, while the Hang Seng Index was up 0.33 per cent at 30,615.75. The smaller Shenzhen index was up 0.85 per cent and the start-up board ChiNext Composite index was 1.11 per cent higher.

Around the region, MSCI's Asia ex-Japan stock index was up 0.37 per cent, while Japan's Nikkei index was down 0.08 per cent. The yuan was quoted at 6.5057 per dollar, 0.17 per cent weaker than the previous close of 6.4949.

The largest percentage gainers in the main Shanghai Composite index were

Anhui Leimingkehua Co Ltd , up 10.03 per cent, followed by Bbmg Corp, and T ianjin Capital Environmental Protection Group Co Ltd , which were both up by 10.02 per cent. The largest percentage losses in the Shanghai index were registed by Jiangsu Protruly Vision Technology Group Co Ltd , down 5.01 per cent, followed by BOCO Inter-Telecom Co Ltd , which lost 4.98 per cent.

The top gainers among H-shares were Byd Co Ltd, which was up 2.8 per cent, while China Pacific Insurance Group Co Ltd gained 2.08 per cent and China Communications Construction Co Ltd rose 1.98 per cent. The three biggest H-shares percentage decliners were PetroChina Co Ltd, which fell 1.25 per cent, Guangzhou Automobile Group Co Ltd, down 1.1 per cent, and Dongfeng Motor Group Co Ltd, which was down 1.0 per cent.

About 13.01 billion shares have traded so far on the Shanghai exchange, roughly 85.4 per cent of the market's 30-day moving average of 15.25 billion shares a day. The volume traded was 20.23 billion during the last full trading day. As of 04:02 GMT, China's A-shares were trading at a premium of 28.99 per cent over the Hong Kong-listed H-shares.

The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. The price-to-earnings ratio of the Shanghai index was 15.07 as of the last full trading day while the dividend yield was 1.9 per cent. So far this week, the market capitalisation of the Shanghai stock index has risen by 1.40 per cent to 29.30 trillion yuan.

In Hong Kong, the sub-index for energy shares on the Hang Seng rose 0.1 per cent, while the IT sector rose 1.4 per cent. The top gainer on Hang Seng was He ngan International Group Company Ltd with a rise of 3.17 per cent, while the biggest loser was Want Want China Holdings Ltd which was down 1.87 per cent.