China and Hong Kong stocks rangebound in choppy trade as caution prevails
HONG KONG, Nov 20(Reuters) -China stocks rose, while Hong Kong shares dipped in choppy trading on Wednesday, as investors remained cautious amid steady lending rates.
** At the midday break, the Shanghai Composite index .SSEC was up 0.55% at 3,364.54 points. ** China's blue-chip CSI300 index .CSI300 was up 0.27%, with the consumer staples sector .CSI000912 up 0.29% and the healthcare sub-index .CSI300HC up 2.45%.
** Hong Kong's benchmark Hang Seng Index .HSI was down 0.12% at 19,641.05. ** China's central bank left benchmark lending rates unchanged at the monthly fixing, after recent rate cuts squeezed banks' profitability and the yuan comes under fresh pressure with Donald Trump's imminent return to the White House.
** The fundamentals have improved following the recent policy supports but haven't shown significant strength yet. The market rotation among major sectors is likely to stay with no signs of earnings bottoming out, analysts at Sinolink Securities said in a note. ** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.08% while Japan's Nikkei index .N225 was down 0.38%. ** Chinese ADRs .HXC fell 0.75% overnight.
** The yuan CNY=CFXS was quoted at 7.2418 per U.S. dollar, 0.03% weaker than the previous close of 7.2395.
Reporting by Hong Kong Newsroom; Editing by Rashmi Aich
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