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China stocks end down on soft economy data

Mon 16th July, 2018 8:21am
* Shanghai stocks lower, blue-chip CSI300 index down
    * Gains in Shanghai stocks led by Baotailong New Materials
    * China's A-shares are at a 19.79 pct premium over H-shares

    SHANGHAI, July 16 (Reuters) - China stocks ended down on
Monday, after data showed the country's economy expanded at a
slower pace in the second quarter, while a trade war with the
United States threatened to hit exports.
** The blue-chip CSI300 index  .CSI300  fell 0.6 percent, to
3,472.09 points, while the Shanghai Composite Index  .SSEC 
closed down 0.6 percent at 2,814.04 points.   
** Banking  .CSI300BI  and real estate firms  .CSI300REI  led
the decline, with indexes tracking those firms down 2.1 percent
and 2.3 percent, respectively.    
** China's economy expanded at a slower pace in the second
quarter as Beijing's efforts to contain debt hurt activity,
while June factory output growth weakened to a two-year low in a
worrying sign for investment and exporters as a trade war with
the United States intensified.  urn:newsml:reuters.com:*:nL4N1U62W8 
** "They need to slow financial deleveraging slightly and to
turn their focus more on growth-supportive measures, for
example, increasing liquidity through (bank reserve requirement)
cuts," said Iris Pang, Greater China Economist at ING in Hong
Kong.   
** China's fiscal policy has "ample room" to support the
economy, the central bank's chief researcher said in an opinion
column on Friday, adding that the policy has not been active
enough.  urn:newsml:reuters.com:*:nL4N1U93IU    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.41 percent while Japan's Nikkei
index  .N225  closed up 1.85 percent.
 
** At 07:03 GMT, the yuan  CNY=CFXS  was quoted at 6.6875 per
U.S. dollar, 0.18 percent firmer than the previous close of
6.6993. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Baotailong New Materials Co Ltd  601011.SS  up 10.07
percent, followed by Triumph Science & Technology Co Ltd
 600552.SS  gaining 10.07 percent and Veken Technology Co Ltd
 600152.SS  up by 10.05 percent.
 
** The largest percentage losses in the Shanghai index were Anji
Foodstuff Co Ltd  603696.SS  down 10.02 percent, followed by
Dynagreen Environmental Protection Group Co Ltd  601330.SS 
losing 10.01 percent and Fujian Furi Electronics Co Ltd
 600203.SS  down by 10.01 percent.
 
** So far this year, the Shanghai stock index is down 14.9
percent, the CSI300 has fallen 13.9 percent while China's
H-share index listed in Hong Kong is down 8.9 percent. Shanghai
stocks have declined 1.18 percent this month. 
** About 10.78 billion shares were traded on the Shanghai
exchange, roughly 82.4 percent of the market's 30-day moving
average of 13.07 billion shares a day. The volume in the
previous trading session was 11.77 billion.
 
** As of 07:03 GMT, China's A-shares were trading at a premium
of 19.79 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.

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