Dec 20, 2024 at 4:39 am GMT
SHANGHAI, (Reuters)-China stocks rose on Friday, as signs of fresh Sino-U.S. tensions in technology fuelled bets on shares of local chip makers, while banks rose after benchmark lending rates were left unchanged.
** Hong Kong shares also edged up, but casino stocks fell after Chinese President Xi Jinping urged Macau to show "courage" tochangeand innovate, potentially reducing the city's reliance on gambling.
** China's blue-chip index CSI300.CSI300rose 0.3% by the midday break, while the Shanghai Composite index. SSEC gained 0.5%. Hong Kong's stock benchmark Hang Seng.HSIwas up 0.1%.
** China's policy-triggered bull run that started in late September has lost steam, but trading remains active, especially among smaller stocks. Outstanding margin trading - a barometer of leveraged bets - hovered near a nine-year high of 1.87 trillion yuan ($256.21 billion).
** Chinese technology shares led the gains, after The Information reported that the U.S. Department of Commerce has recently asked Nvidia NVDA .Oto look into how the company's products ended up in China over the past year.
** The Chip index.STARCHIPjumped 4.8%, while an index tracking China-listed semiconductor companies surged 4.4%. Tech giants traded in Hong Kong.HSTECHwere up 0.6%.
** The CSI Banks index.CSI399986rose 0.6% after China left its benchmark lending ratesunchangedat the monthly fixing on Friday. A cut in lending rates would erode banks' profitability.
** In another sign that the industry's ne
Sumber : Reuters
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