China, Hong Kong stocks fall as trade fears resurface

Dynagreen Environmental Protection Co

26/07/2018 05:20

* SSEC -0.6 pct, CSI300 -0.9 pct, HSI -0.7 pct
    * HK->Shanghai Connect daily quota used 1.2 pct
    * Shanghai->HK daily quota used 0 pct
    * FTSE China A50 -0.8 pct, BNY Mellon ADR China Select Index
+2.4
pct

    SHANGHAI, July 26 (Reuters) - China and Hong Kong stocks
fell on Thursday, as trade war fears resurfaced.
** The CSI300 index  .CSI300  fell 0.9 percent to 3,546.66 at
the end of the morning session, while the Shanghai Composite
Index  .SSEC  lost 0.6 percent to 2,885.29.
** The Hang Seng index  .HSI  dropped 0.7 percent to 28,707.91,
while the Hong Kong China Enterprises Index  .HSCE  lost 0.7
percent to 10,991.91.
** China's state planner vowed on Wednesday to prevent extensive
job losses across the economy and keep unemployment below
existing thresholds as trade friction with the United States
created uncertainty in the labour market.
** "The escalating Sino-U.S. trade frictions have brought
uncertainties to our country's economic development and
especially to employment stability," Ha Zengyou, a senior
official from the state planner, told reporters.  urn:newsml:reuters.com:*:nL4N1UL2TI
** U.S. President Donald Trump accused China on Wednesday of
targeting American farmers in a "vicious" way and using them as
leverage to get concessions on trade a day after the
administration announced a $12 billion farm aid package.
 urn:newsml:reuters.com:*:nL1N1UL0CN     
** The prospect of weaker growth has prompted a loosening of
fiscal policy in China as authorities seek to head off a
slowdown. Most recently, China's central bank gave notice to
some domestic banks that it would ease a capital requirement to
support lending.  urn:newsml:reuters.com:*:nL4N1UL4XE  
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.10 percent while Japan's Nikkei
index  .N225  was down 0.15 percent.
** The yuan  CNY=CFXS  was quoted at 6.769 per U.S. dollar, 0.08
percent weaker than the previous close of 6.7638. 
** The largest percentage gainers in the main Shanghai Composite
index were Lotus Health Group Co  600186.SS  up 10.24 percent,
followed by Tianjin Songjiang Co Ltd  600225.SS  gaining 10.18
percent and Tianjin Quanyechang Group Co Ltd  600821.SS  up by
10.09 percent.
** The largest percentage losses in the Shanghai index were
Jiangsu New Energy Development Co Ltd  603693.SS  down 9.48
percent, followed by Red Avenue New Materials Group Co Ltd
 603650.SS  losing 9.47 percent and Dynagreen Environmental
Protection Group Co Ltd  601330.SS  down by 8.82 percent.
** The top gainers among H-shares were Huaneng Power
International Inc  0902.HK  up 2.56 percent, followed by
Guangdong Investment Ltd  0270.HK  gaining 1.65 percent and
SINOPHARM GROUP CO LTD  1099.HK  up by 1.38 percent.
** The three biggest H-shares percentage decliners were
Guangzhou Automobile Group Co Ltd  2238.HK  which has fallen
3.42 percent, China Merchants Bank Co Ltd  3968.HK  which has
lost 2.1 percent and China Railway Group Ltd  0390.HK  down by
1.9 percent.
** About 9.75 billion shares were traded so far on the Shanghai
exchange, roughly 71.0 percent of the market's 30-day moving
average of 13.73 billion shares a day. The volume traded was
16.78 billion as of the last full trading day.
** As of 04:06 GMT, China's A-shares were trading at a premium
of 18.37 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.
** The price-to-earnings ratio of the Shanghai index was 12.63
as of the last full trading day while the dividend yield was 2.6
percent.
** So far this week, the market capitalisation of the Shanghai
stock index has risen by 2.69 percent to 30.77 trillion yuan.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
China stock market graphics suite     http://reut.rs/1NfkoGl
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Luoyan Liu and John Ruwitch; Editing by Gopakumar
Warrier)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))