China stocks falter as bank lending falls; Hong Kong drags

Boc Hong Kong Holdings

13/08/2019 05:38

* SSEC falls 0.7%, CSI300 1% lower; HSI hits lowest since
early
Jan
    * China's July new loans fall more than analyst estimates
    * Shenzhen Aiport rallies as nearby HK airport hit by
protests

    HONG KONG, Aug 13 (Reuters) - Shares in mainland China fell
on Tuesday after data showed banks gave out fewer new loans than
expected in July to support slowing economic growth, while
escalating protests in Hong Kong dampened sentiment.
    
** At the midday break, the Shanghai Composite index  .SSEC  was
down 0.7% at 2,794.07, and the blue-chip CSI300 index  .CSI300 
was down almost 1%.
** CSI300's financial sector sub-index  .CSI300FS  was lower by
1.3%, the consumer staples sector  .CSI000912  was down 0.5%,
the real estate index  .CSI000952  was down 1.2% and the
healthcare sub-index  .CSI300HC  was down 0.4%.
** The smaller Shenzhen index  .SZSC  was down 0.9% and the
start-up board ChiNext Composite index  .CNT  was weaker by
1.2%.
** Chinese banks extended 1.06 trillion yuan ($150.06 billion)
in new yuan loans in July, down from June and falling short of
analysts' expectations, according to data released by the
People's Bank of China on Monday.  urn:newsml:reuters.com:*:nL4N24X18H
** The PBOC lowered its official yuan midpoint for the ninth
straight day to a fresh 11-year low on Tuesday to reflect broad
weakness in the local unit.  urn:newsml:reuters.com:*:nAZN0FH100
** China's foreign exchange regulator said on Monday it does not
expect disorderly depreciation of the yuan despite the impact
from external factors such as trade frictions.  urn:newsml:reuters.com:*:nB9N24U02C
** The yuan  CNY=CFXS  was quoted at 7.0636 per U.S. dollar,
0.07% weaker than the previous close of 7.0585.
** Hong Kong leader Carrie Lam said on Tuesday the city's
recovery from protests that have swept the Asian financial hub
could take a long time and that she would be responsible for
rebuilding its economy "after the violence eases".  urn:newsml:reuters.com:*:nL4N2583NW
** Protesters sat in at the Hong Kong airport on Monday, forcing
mass flight cancellations in the afternoon. Also on Monday,
Beijing condemened violence in the protests which it said had
begun to show "sprouts of terrorism".  urn:newsml:reuters.com:*:nH9N1Z302E
** The Hang Seng Index  .HSI  dropped 1.9% in morning trade to 
25,345.65, its lowest since early January, while Chinese
H-shares listed in Hong Kong  .HSCE  fell 1.4%.
** Shares in Shenzhen Airport Co Ltd  000089.SZ  surged over 10%
to their highest since April 4. The company could benefit from
losses in passenger flow in the nearby Hong Kong airport, Citic
Securities' analysts noted in report.  urn:newsml:reuters.com:*:nL4N2590OC
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.1%, while Japan's Nikkei index
 .N225  was down 1.1%.
** China's A-shares were trading at a premium of 31.82% over the
Hong Kong-listed H-shares.  .HSCAHPI 
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.
    
    

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 (Reporting by Noah Sin; Editing by Rashmi Aich)
 ((noah.sin@thomsonreuters.com; Reuters Messaging:
noah.sin.thomsonreuters.com@reuters.net))