July 12, 2019 / 11:47 AM
SHANGHAI (Reuters) - China and Hong Kong stocks rose on Friday morning after Wall Street touched fresh record highs overnight, but the main indexes were set to post declines for the week.
The market is awaiting a slew of China economic data to gauge health of the world's second-biggest economy, while renewed worries over Sino-U.S. trade tensions kept investors on edge, capping the rebound.
The CSI300 index rose 0.7%, to 3,811.57 points at the end of the morning session, while the Shanghai Composite Index gained 0.5%, to 2,931.12 points. So far this week, CSI300 is down roughly 2%, while SSEC has lost 2.7%.
In Hong Kong, the Hang Seng index added 0.5%, to 28,574.46 points, while the Hong Kong China Enterprises Index gained 0.6%, to 10,844.93.
China is due to release June trade and lending data on Friday, while second-quarter GDP figures are scheduled for Monday. China's economy is expected to have slowed to its weakest pace in at least 27 years, raising hopes for more stimulus ahead.
Zhu Haiwen, analyst at Nanjing Securities, said that investors are assessing how government policies are impacting companies' fundamentals amid the first-half earnings season.
Meanwhile, worries over Sino-U.S. trade tensions resurfaced after U.S. President Donald Trump tweeted on Thursday that China was not living up to promises it made on buying agricultural products from American farmers.
China's CSI300 financial sector sub-index was higher by 1.04%, the consumer staples sector up 0.38%, the real estate index up 0.86% and the healthcare sub-index up 0.4%.
Chinese H-shares listed in Hong Kong rose 0.56% at 10,844.93, while the Hang Seng Index was up 0.5% at 28,574.46.
The smaller Shenzhen index was up 0.48% and the start-up board ChiNext Composite index was higher by 0.34%.
Around the region, MSCI 's Asia ex-Japan stock index was firmer by 0.08%, while Japan's Nikkei index was up 0.14%.
The yuan was quoted at 6.8721 per U.S. dollar, 0.03% firmer than the previous close of 6.874.
The largest percentage gainers in the main Shanghai Composite index were Jiangsu Chengxing Phosph-Chemical Co Ltd, up 10.1%, followed by Anhui Liuguo Chemical Co Ltd, gaining 10.09% and JCHX Mining Management Co Ltd, up by 10.05%.
The largest percentage losses in the Shanghai index were QuMei Home Furnishings Group Co Ltd, down 7.87%, followed by Guangdong Songyang Recycle Resources Co Ltd , losing 7.61% and Suzhou Secote Precision Electronic Co Ltd, down by 7.53%.
Sumber : Reuters
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