China shares end up as investors keep the faith despite Trump’s mixed trade signals

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* Shanghai Composite index +0.74%

* Blue-chip CSI300 index adds 0.77%

* Trump says talks going ‘very well’

SHANGHAI, Dec 5 (Reuters) – Chinese shares rose on Thursday, lifted by renewed hopes that China and the United States may be closer to a “phase one” trade deal to end a bitter tariff war that has dragged on since the middle of last year. ** At the close, the Shanghai Composite index was up 0.74% at 2,899.47. It has gained 1.48% since hitting more than three-month lows on Tuesday. ** The blue-chip CSI300 index was up 0.77%, with its financial sector sub-index higher by 0.74%, the consumer staples sector up 0.24%, the real estate index down 0.11% and the healthcare sub-index up 0.96%. ** U.S. President Donald Trump said talks with China were going “very well,” a day after spooking markets by saying a deal might have to wait until after the 2020 presidential election. ** But a harsh response from Chinese officials and state media to the U.S. House of Representatives passing the Uighur Act of 2019, which calls for a tougher response to Beijing’s treatment of its Uighur Muslim minority, illustrates continued uncertainty in the countries’ relationship. ** China warned passage of the bill would affect bilateral cooperation, clouding prospects for a near-term deal to end the trade war. ** The smaller Shenzhen index ended up 1.15% and the start-up board ChiNext Composite index was higher by 2.154%. ** Around the region, MSCI’s Asia ex-Japan stock index was 0.58% firmer, while Japan’s Nikkei index closed up 0.71%. ** At 07:15 GMT, the yuan was quoted at 7.047 per U.S. dollar, 0.05% firmer than the previous close of 7.0508. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai Wanye Enterprises Co Ltd, up 10.01%, followed by Qingdao Topscomm Communication Inc , gaining 10.01% and WG Tech JiangXi Co Ltd , up by 10.01%. ** The largest percentage losses in the Shanghai index were Shanghai Chuangli Group Co Ltd down 10.02%, followed by Shanghai Beite Technology Co Ltd losing 7.06% and Shenzhen Geoway Co Ltd which fell 5.17%. ** So far this year, the Shanghai stock index is up 16.3% and the CSI300 has risen 28.9%, while China’s H-share index listed in Hong Kong is up 1.9%. Shanghai stocks have risen 0.96% this month. (Reporting by Andrew Galbraith Editing by Shri Navaratnam)

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