China, HK stocks rise, led by property shares

China and Hong Kong stocks rose on Monday, led by real estate shares, as some major cities relaxed home purchase restrictions over the weekend and as market expectations for more easing measures rose.

Chinese property developers traded in China 000952 and Hong Kong HHSMPI jumped 6.9% and 4.3%, respectively, by midday on Monday.

Meanwhile, China's industrial profits fell in March compared to the first two months and slowed gains for the quarter, official data showed on Saturday, raising doubts about the strength of the recovery in the world's second-biggest economy.

** At the midday break, the Shanghai Composite index 000001 was up 0.8% at 3,113.29 points.

** China's blue-chip CSI300 index 3399300 was up 1.4%, with its financial sector sub-index 3399914 higher by 1.65%, the consumer staples sector 0000912 up 1.02%, the real estate index 000952 up 6.93% and the healthcare sub-index 399913 up 2.74%.

** Chinese H-shares listed in Hong Kong HSCEI rose 0.9% to 6,326.49, while the Hang Seng Index HSI was up 1.29% at 17,878.13.

** The smaller Shenzhen index 399106 was up 2.08%, the start-up board ChiNext Composite index 3399006 was higher by 3.6% and Shanghai's tech-focused STAR50 index (.STAR50) was up 3.09%​.

** Around the region, MSCI's Asia ex-Japan stock index (.MIAPJ0000PUS) was firmer by 0.94% while Japan's Nikkei index NI225 was up 0.81%.

** The yuan USDCNY was quoted at 7.2449 per U.S. dollar, 0.02% firmer than the previous close of 7.2465.

** The largest percentage gainers in the main Shanghai Composite index were Guangdong Fangyuan New Materials Group Co Ltd 688148, up 18.25%, followed by Shenzhen Qingyi Photomask Ltd 688138, gaining 15.73% and Wuhan Citms Technology Co Ltd 688038, up by 14.94%.

** The top gainers among H-shares were Longfor Group Holdings Ltd 960, up 8.36%, followed by JD Health International Inc 6618, gaining 5.64% and Xpeng Inc XPEV, up by 4.95%.