China shares flat amid trade talk optimism; Alibaba climbs nearly 7% in strong HK debut

News of a phone call between top Chinese and U.S. trade negotiators failed to nudge China shares higher on Tuesday, while Alibaba made a solid debut in a quiet Hong Kong market. ** At the midday break, the Shanghai Composite index was flat at 2,906.08. ** China's blue-chip CSI300 index was up 0.1%, with its financial sector sub-index lower by 0.26%, the consumer staples sector up 0.59%, the real estate index down 0.7% and the healthcare sub-index up 0.52%. ** Top trade negotiators from China and the United States held a phone call on Tuesday morning, China's Commerce Ministry said, as the two sides try to hammer out a preliminary "phase one" deal in a trade war that has dragged on for 16 months. ** "The resumption of trade talks had a muted impact on the equity market with investors accustomed to the negotiation process," said Gerry Alfonso, an analyst at Shenwan Hongyuan Securities. ** Earlier this month, global index provider MSCI said it would increase the weightage of Chinese A-shares in its emerging markets index to 4.1% from 2.55%, effective at the market open on Nov. 27. ** Alfonso said the rebalancing had a relatively small impact on the market on Tuesday. ** Chinese H-shares listed in Hong Kong rose 0.05% to 10,635.37, while the Hang Seng Index was down 0.08% to 26,970.34. ** The focus in Hong Kong was on the debut of Alibaba Group's Hong Kong shares. At the midday break, these shares were trading at HK$188.10, up 6.9% from the issue price of HK$176. ** The smaller Shenzhen index was up 0.08% and the start-up board ChiNext Composite index was higher by 0.39%. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.31%, while Japan's Nikkei index was up 0.33%. ** The yuan was quoted at 7.03 per U.S. dollar, 0.08% firmer than the previous close of 7.0355. ** The largest percentage gainers in the main Shanghai Composite index were Sichuan Golden Summit Group Joint Stock Co Ltd , up 10.08%, followed by Shanghai La Chapelle Fashion Co Ltd, gaining 10.06%, and Veken Technology Co Ltd , up by 10.02%. ** The largest percentage losers in the Shanghai index were Beijing Cuiwei Tower Co Ltd, down 10.02%, followed by Vohringer Home Technology Co Ltd, losing 10%, and Beijing Qianjing Landscape Co Ltd, down by 8.89%. ** The top gainers among H-shares were Geely Automobile Holdings Ltd, up 1.96%, followed by Want Want China Holdings Ltd, gaining 1.66%, and ANTA Sports Products Ltd , up by 1.41%. ** The three biggest H-shares percentage decliners were China Gas Holdings Ltd, down 3.31%, China Resources Beer Holdings Co Ltd, which fell 2.49% and China Resources Land Ltd, which is 1.71% lower. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.3%, while the IT sector fell 0.1%. The top gainer on the Hang Seng was Sunny Optical Technology Group Co Ltd, up 2.55%, while the biggest loser was AAC Technologies Holdings Inc, which was down 2.84%.

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