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China stocks end flat as drugmakers slump; up for the week

Fri 7th December, 2018 7:27am
* Shanghai Composite, CSI300 indexes both flat
    * Healthcare shares plunge on price cut concerns
    * Yuan slightly firmer

    SHANGHAI, Dec 7 (Reuters) - China's main equity market
indexes ended flat on Friday in thin trade as investors remained
cautious after the arrest of a senior Huawei executive sparked a
global sell-off on fears it could derail hopes for a lasting
U.S.-China trade detente.
    
** At the close, the Shanghai Composite index  .SSEC  was flat
at 2,605.88 points. But despite the sharp fall on Thursday, it
gained 0.7 percent for the week.
 
** The blue-chip CSI300 index also ended flat at 3,181.56
points, with its financial sector sub-index  .CSI300FS  higher
by 0.07 percent, the consumer staples sector down 0.25 percent,
the real estate index up 0.66 percent and the healthcare
sub-index down 4.31 percent. The CSI300 index gained 0.3 percent
for the week.
 
** Shares in China's drugmakers slumped, as investor worries
deepened over the steep price cuts following bidding results in
volume-based drug procurement negotiations. The CSI300
healthcare index  .CSI300HC  finished 4.3 percent lower.
 urn:newsml:reuters.com:*:nL4N1YC1DU
 
** Meng Wanzhou, chief financial officer of Huawei Technologies
Co Ltd  HWT.UL , who is under arrest in Canada is set to appear
in a Vancouver court on Friday for a bail hearing as she awaits
possible extradition to the United States.  urn:newsml:reuters.com:*:nL1N1YB2FW  
 
** President Donald Trump did not know about plans to arrest
Meng, two U.S. officials said on Thursday, in an apparent
attempt to stop the incident from impeding crucial trade talks
with Beijing.  urn:newsml:reuters.com:*:nL1N1YB2IW
 
** The smaller Shenzhen index  .SZSC  ended unchanged for the
day and the start-up board ChiNext Composite index  .CHINEXTP 
was weaker by 0.352 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.32 percent, while Japan's Nikkei
index  .N225  closed up 0.82 percent.
 
** At 0708 GMT, the yuan  CNY=CFXS  was quoted at 6.8779 per
U.S. dollar, 0.06 percent firmer than the previous close of
6.882. 
 
** The largest percentage gainers in the main Shanghai Composite
index were TianYu Eco-Environment Co Ltd  603717.SS , up 10.05
percent, followed by Eastern Communications Co Ltd  600776.SS ,
gaining 10.03 percent and Jiangsu Xinri E-Vehicle Co Ltd
 603787.SS , up by 10.03 percent.
 
** The largest percentage losses in the Shanghai index were
FUREN Group Pharmaceutical Co Ltd  600781.SS  down 10 percent,
followed by Zhejiang Langdi Group Co Ltd  603726.SS  losing 9.99
percent and Autobio Diagnostics Co Ltd  603658.SS  down by 9.72
percent.
 
** So far this year, the Shanghai stock index is down 21.2
percent, the CSI300 has fallen 21.1 percent while China's
H-share index listed in Hong Kong is down 10.9 percent. Shanghai
stocks have risen 0.68 percent this month. 
 
** About 10.91 billion shares were traded on the Shanghai
exchange, roughly 61.0 percent of the market's 30-day moving
average of 17.88 billion shares a day. The volume in the
previous trading session was 14.17 billion.
 

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