(Corrects ZTE share price movement in 4th bullet)
* HSI +0.1 pct, H-shares +0.3 pct, CSI300 +0.1 pct
* China Vanke surges, B-shares to relist in Hong Kong
* China shipping lifted by reported Beijing support
* ZTE down after choppy morning trade
By Clement Tan
HONG KONG, Jan 21 (Reuters) - Hong Kong shares hit a fresh
19-1/2 month high on Monday, lifted by mainland Chinese markets
that were helped by a 10 percent surge for property developer
Vanke after the company announced plans to relist their B shares
in Hong Kong.
The Hang Seng Index went into the midday trading
break up 0.1 percent at 23,631.9, its highest since June 1,
2011. The China Enterprises Index of the top Chinese
listings rose 0.3 percent.
In the mainland, the Shanghai Composite Index and
the CSI300 of the top Shanghai and Shenzhen listings
each inched up 0.1 percent after earlier testing new highs since
early June 2012.
"Hong Kong is very much tracking the A-share market right
now, and there's added flows from Japan on expectation of a
weaker yen from monetary easing," said Jackson Wong, Tanrich
Securities' vice-president for equity sales.
China Vanke's A and B share listings
in Shenzhen each soared by the maximum-allowed 10 percent after
the country's largest property developer by sales became the
second firm to leave the mainland's moribund B-share market.
Vanke's Shenzhen shares were trading on Monday for the first
time since they were suspended on Dec. 26. Shares in Vanke's
Hong Kong-listed subsidiary Vanke Properties Overseas Ltd
, formerly known as Winsor Properties, surged 15.5
The Chinese shipping sector was also strong after mainland
media reported that Beijing is working out a plan to help the
sector, involving tax and other financial support that is likely
to be rolled out in the first half of the year.
Adding to positive sentiment toward the sector, China
Shipping Container Lines jumped 4.3 percent
in Hong Kong and 9.9 percent in Shanghai after it said on Friday
that it expects to post a net profit for 2012 after posting a
loss the year before.
ZTE Corp was down 1.1 percent in Hong Kong at the
end of a topsy turvy morning session after China's
second-largest telecom equipment maker issued a profit warning
(Editing by Simon Cameron-Moore)