Material, financial stocks boost China shares; Hong Kong up

Credit: REUTERS/ALY SONG

Chinese shares rose on Tuesday, led by gains in blue-chip financial and material companies, as investors bet more on a swift economic recovery from the pandemic.

SSEC 1.1%, CSI300 1.0%, HSI 2.0%

HK->Shanghai Connect daily quota used 5.5%, Shanghai->HK daily quota used 5.9%

FTSE China A50 +1.1%

BEIJING/SHANGHAI, Nov 3 (Reuters) - Chinese shares rose on Tuesday, led by gains in blue-chip financial and material companies, as investors bet more on a swift economic recovery from the pandemic.

** At the midday break, the Shanghai Composite index .SSEC was up 1.13% at 3,261.71.

** China's blue-chip CSI300 index .CSI300 was up 0.96%, with its financial sector sub-index .CSI300FS higher by 1.74%, and the material sector sub-index .CSI000909 up 1.91%.

** The smaller Shenzhen index .SZSC was up 1.12%, the start-up board ChiNext Composite index .CNT was higher by 0.86% and Shanghai's tech-focused STAR50 index .STAR50 was up 3.13%​.

** Semiconductor shares jumped in Shanghai and Shenzhen, as the sector was cited as a crucial industry to develop in a communique of the fifth plenary meeting of the Chinese Communist Party's central committee.

** China's A-shares are set to rebound in November after the earnings season, and the liquidity concern brought by giant fintech listings such as Ant Group 688688.SS, 6688.HK has gradually eased, said Yang Delong, investment manager at First Seafront Fund Management Co.

** China's blue-chip stocks started the month on a firm note on Monday, with consumer stocks leading gains.

** Activity in China's factory sector accelerated at the fastest pace in nearly a decade in October as domestic demand surged, a survey showed on Monday.

** External uncertainties such as the U.S. presidential election has shown marginal impact, and such impact will be reduced further once the result is out, Yang said.

** Chinese H-shares listed in Hong Kong .HSCE rose 1.49% to 10,085.1, while the Hang Seng Index .HSI was up 1.96% at 24,938.44.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.98% while Japan's Nikkei index .N225 was up 1.39%.

(Reporting by Cheng Leng in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; editing by Uttaresh.V)

((cheng.leng@thomsonreuters.com; +8610-5669-2129;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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