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China blue-chips firm as investors cheer govt stimulus guidelines; Hong Kong down

* SSEC -0.1%, CSI300 0.1%, HSI -0.3%

* HK->Shanghai Connect daily quota used 1.1%

* Shanghai->HK daily quota used 1%

* FTSE China A50 +0.2%

SHANGHAI, Sept 22(Reuters) - China’s blue-chip shares firmed on Tuesday, as investors cheered Beijing’s latest efforts to boost consumption.

** The CSI300 index rose 0.1%, to 4,694.09 points at the end of the morning session, while the Shanghai Composite index lost 0.1%, to 3,312.88 points.

** China’s cabinet on Monday issued guidelines to boost new types of consumption, including online shopping and payments, in a bid to support the recovery of the economy.

** Retail sales rose 0.5% in August from a year earlier, snapping a seven-month slump, but still trailing behind expansions in exports and investment as the economy steadily recovers from the COVID-19 pandemic’s hit.

** The CSI300 consumer staples index rose 0.5% by midday break, having gained 43% so far this year.

** Also lending support, heavyweight securities firms climbed 2.2%.

** The Guolian-Sinolink merger could help consolidate financial resources and promote the healthy development of the securities industry, analysts at Guosen Securities said in a report.

** Guolian Securities Co said on Sunday it would acquire Sinolink Securities Co through a share swap and stake purchase, a move that accelerates the consolidation of Chinese brokerages.

** China’s major airlines fell on renewed concerns over the coronavirus outbreak in overseas countries.

** The Hang Seng index dropped 0.3%, to 23,887.33 points, while the Hong Kong China Enterprises index gained 0.1%, to 9,652.49.

** Hong Kong-listed shares of HSBC Holdings extended Monday’s heavy losses and fell as much as 3.4% to a 25-year low, while Standard Chartered shed 2% to its lowest since 2002.

** Global banks are facing a fresh scandal about dirty money after leaked documents showed they transferred more than $2 trillion in suspect funds over nearly two decades (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Kim Coghill and Shounak Dasgupta)

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