China stocks drop for 3rd day as trade fears linger

Dynagreen Environmental Protection Co

30/08/2018 08:21

* Shanghai stocks lower, blue-chip CSI300 index down
    * Gains in Shanghai led by Delixi Xinjiang Transportation Co
Ltd 
    * Shanghai losses led by Xinjiang Tianye Co Ltd
    * China's A-shares are at a 16.51 percent premium over
H-shares

    SHANGHAI, Aug 30 (Reuters) - China stocks fell on Thursday,
their third straight session of losses, as worries lingered over
the country's economic health amid its trade spat with the
United States. 
** The blue-chip CSI300 index  .CSI300  fell 1.0 percent to
3,351.09 points, while the Shanghai Composite Index  .SSEC  also
closed down 1.1 percent at 2,737.74 points.    
** Main sectors fell across the board, except utilities
 .CSI300UT  which ended 0.1 percent higher.  
** Activity in China's vast factory sector likely slowed for the
third straight month in August as domestic demand remained weak
and exporters faced rising uncertainties from the escalating
trade war with the United States, a Reuters poll showed.
 urn:newsml:reuters.com:*:nL3N1VK4RL 
** "Investors are relatively pessimistic and cautious for now
amid low levels of trading volume, as there are still concerns
over the development of Sino-U.S. trade spat," said Yan Kaiwen,
an analyst with China Fortune Securities. 
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.28 percent while Japan's Nikkei
index  .N225  closed up 0.09 percent.
 
** At 07:05 GMT, the yuan  CNY=CFXS  was quoted at 6.8306 per
U.S. dollar, 0.15 percent weaker than the previous close of
6.8205. 
 
** The largest percentage gainers on the main Shanghai Composite
index were Delixi Xinjiang Transportation Co Ltd  603032.SS  up
10 percent, followed by Dynagreen Environmental Protection Group
Co Ltd  601330.SS  gaining 9.98 percent and Zhonglu Co Ltd
 600818.SS  up by 9.97 percent.
 
** The largest percentage losses on the Shanghai index were
Xinjiang Tianye Co Ltd  600075.SS  down 9.98 percent, followed
by Shenzhen Hopewind Electric Co Ltd  603063.SS  losing 9.81
percent and Linewell Software Co Ltd  603636.SS  down by 8.9
percent.
 
** So far this year, the Shanghai stock index is down 17.2
percent, the CSI300 has fallen 16.9 percent while China's
H-share index listed in Hong Kong is down 6.3 percent. Shanghai
stocks have declined 4.82 percent this month. 
** About 10.61 billion shares were traded on the Shanghai
exchange, roughly 79.1 percent of the market's 30-day moving
average of 13.41 billion shares a day. The volume in the
previous trading session was 10.02 billion.
 
** As of 07:05 GMT, China's A-shares were trading at a premium
of 16.51 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 11.78
as of the last full trading day while the dividend yield was 2.7
percent.
 
** So far this week, the market capitalisation of the Shanghai
stock index has risen by 1.46 percent to 29.48 trillion yuan.

 (Reporting by Shanghai Newsroom; Editing by Amrutha Gayathri)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))