China, Hong Kong stocks rise, supported by signs of economic improvements

Reuters

China, Hong Kong stocks rise, supported by signs of economic improvements

2024 11월 1 일, 오전 4:58 GMT

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Updates to midday

SHANGHAI, Nov 1 (Reuters) -China and Hong Kong stocks rose on Friday, lifted by property stocks that gained on signs of economic recovery, but concerns over the U.S. presidential election next week and its impact on Sino-U.S. trade and economic policy kept gains in check.

Latest housing data and manufacturing surveys showed that the string of recent stimulus measures have made early impact on economic recovery, investors and analysts said.

Apart from the outcome of the Nov. 5 U.S. election, investors said another market focus was the approaching Nov. 4-8 meeting of China's top legislative body, which is expected to approve more fiscal stimulus measures to aid the economy.

** At the midday break, the Shanghai Composite index .SSEC was up 0.6% at 3,299.61 points, while the blue-chip CSI300 index .CSI300 was up 0.87%.

** Chinese H-shares listed in Hong Kong, the Hang Seng China Enterprises Index .HSCE rose 1.82% to 7,396.23 points, while the benchmark Hang Seng Index .HSI was up 1.57% at 20,635.73 points.

** The smaller Shenzhen index .SZSC was down 0.75%, the start-up board ChiNext Composite index .CNT was weaker by 0.08% and Shanghai's tech-focused STAR50 index .STAR50 was down 0.96%.

** Property shares led gains, with the sub-index measuring the sector's performance .CSI000952 rising 1.61% in morning deals.

** Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market.

** China's manufacturing activity swung back to growth in October as an expansion in new orders led to a pick-up in production growth, signalling an improvement in the sector at the start of the final quarter, a private-sector survey showed.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.35% while Japan's Nikkei index .N225 was down 2.30%.

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Reporting by Shanghai Newsroom; editing by Alan Barona and Sumana Nandy

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