China, HK stocks fall as investors shun riskier assets on oil plunge
21/04/2020 06:02
* Shanghai stocks -1.35%, blue-chip CSI300 index -1.66%
* HSI -2.29%, Hong Kong extends coronavirus restrictions
* U.S. crude futures drop below zero for first time ever
BEIJING/SHANGHAI, April 21 (Reuters) - China and Hong Kong
stocks dropped on Tuesday as caution recaptured world markets
after U.S. crude futures recorded a historical plunge overnight,
stoking investors to stay away from riskier assets.
** At the midday break, the Shanghai Composite index .SSEC was
down 1.35% at 2,813.95 points.
** China's blue-chip CSI300 index .CSI300 was down 1.66%, with
its financial sector sub-index .CSI300FS dropping 1.3%, the
consumer staples sector .CSI000912 down 1.91%, the real estate
index .CSI000952 down 1.49% and the healthcare sub-index
.CSI300HC down 1.77%.
** Chinese H-shares listed in Hong Kong .HSCE fell 2.17% to
9,611.3, while the Hang Seng Index .HSI was down 2.29% at
23,772.36.
** The sub-index of the Hang Seng tracking energy shares
.HSCIE dropped 2.8% by midday, a deeper fall than other
sectors, while the IT sector .HSCIIT fell 2.18%, the financial
sector .HSNF slipped 2.01% lower and the property sector lost
1.75% by noon.
** The smaller Shenzhen index .SZSC was down 1.56% and the
start-up board ChiNext Composite index .CNT was weaker by
1.93%.
** U.S. crude futures traded into negative territory for the
first time ever on Monday on plunging demand for fuel due to the
coronavirus pandemic, a massive glut in crude supplies and
insufficient storage capacity in the U.S. urn:newsml:reuters.com:*:nL1N2C80CS
** The plunge in oil prices hurt sentiment and the outlook for
commodities demand and economic recovery, dragging A-shares
lower said Zhang Qi, Shanghai-based analyst at Haitong
Securities Co.
** China reported 11 new confirmed coronavirus cases on April
20, down from 12 a day earlier, with no new deaths, the
country's health authority said on Tuesday. urn:newsml:reuters.com:*:nL3N2C00A5
** Hong Kong's government will extend restrictions aimed at
tackling the coronavirus for another 14 days to preserve the
city's success in keeping the number of cases down, the city's
chief executive said on Tuesday. urn:newsml:reuters.com:*:nL4N2C90V0
** Around the region, MSCI's Asia ex-Japan stock index
.MIAPJ0000PUS was weaker by 2.29% while Japan's Nikkei index
.N225 was down 2.21%.
** The yuan CNY=CFXS was quoted at 7.0872 per U.S. dollar,
0.19% weaker than the previous close of 7.0736.
(Reporting by Cheng Leng in Beijing and Andrew Galbraith in
Shanghai, Editing by Sherry Jacob-Phillips)
((cheng.leng@thomsonreuters.com; +8610-5669-2129;))