China, HK stocks fall on concerns over China economy, trade war

Dynagreen Environmental Protection Co

05/09/2018 05:52

* SSEC -0.9 pct, CSI300 -1.1 pct, HSI -1.7 pct
    * Growth in China's services sector weakens in Aug
    * Investors brace for likely escalation of trade war 

    SHANGHAI, Sept 5 (Reuters) - China and Hong Kong stocks fell
as worries about China's economic health and Sino-U.S. trade
conflicts curbed investor appetite for riskier assets.
      
** The CSI300 index  .CSI300  was down 1.1 percent at 3,327.93
points, at the end of the morning session, while the Shanghai
Composite Index  .SSEC  lost 0.9 percent to 2,725.26 points. 
    
** The Hang Seng index  .HSI  dropped 1.7 percent to 27,512.14
points. The Hong Kong China Enterprises Index  .HSCE  lost 1.4
percent to 10,735.79.
    
** Growth in China's services sector weakened again in August as
new business picked up only slightly from July's more than
two-year low, a private survey showed on Wednesday.  urn:newsml:reuters.com:*:nS7N1DB00B
    
** Market sentiment was also curbed by a likely escalation in
the Sino-U.S trade war. U.S. President Donald Trump has told
aides he is ready to impose tariffs on $200 billion more in
Chinese imports as soon as a public comment period on the plan
ends this week.  urn:newsml:reuters.com:*:nL2N1VL1AL
    
** China's CSI300 index financial sector sub-index  .CSI300FS 
was lower by 1.45 percent, the consumer staples sector down 0.84
percent, the real estate index  .CSI300REI  down 2.49 percent
and the healthcare sub-index  .CSI300HC  down 0.41 percent.
 
** The smaller Shenzhen index  .SZSC  was down 0.72 percent and
the start-up board ChiNext Composite index  .CHINEXTP  was
weaker by 0.73 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  slipped 0.90 percent, while Japan's Nikkei index
 .N225  dropped 0.31 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.8365 per U.S. dollar,
0.12 percent firmer than the previous close of 6.845. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Shenzhen Geoway Co Ltd  600462.SS , up 10.15 percent,
followed by Hunan Salt Industry Co Ltd  600929.SS , gaining
10.03 percent and Dynagreen Environmental Protection Group Co
Ltd  601330.SS , up by 10 percent.
 
** The largest percentage losses in the Shanghai index were
Nanjing Central Emporium Group Stocks Co Ltd  600280.SS , down
10.05 percent, followed by Milkyway Chemical Supply Chain
Service Co Ltd  603713.SS , losing 6.81 percent and Orient Group
Inc  600811.SS , down by 5.37 percent.
 
** As of 0439 GMT, China's A-shares were trading at a premium of
18.68 percent over the Hong Kong-listed H-shares.
 
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
China stock market graphics suite     http://reut.rs/1NfkoGl
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Shanghai Newsroom, Editing by Sherry
Jacob-Phillips)
 ((Samuel.shen@tr.com))