China stocks creep higher after previous day's rout

Hang Lung Properties

07/12/2018 04:38

* SSEC 0.1 pct, CSI300 0.1 pct, HSI 0.3 pct
    * Drugmakers fall on price cut worries
    * Yuan firms to 6.872 per dollar

    SHANGHAI, Dec 7 (Reuters) - Shares in China were barely
higher Friday after slumping a day earlier on the arrest of the
chief financial officer of Chinese technology giant Huawei,
which raised fears that a fragile temporary trade truce between
the U.S. and China could shatter.
      
** At the midday break, the Shanghai Composite index  .SSEC  was
up 1.96 points or 0.08 percent at 2,607.14. 
 
** China's blue-chip CSI300 index  .CSI300  was up 0.12 percent,
with its financial sector sub-index  .CSI300FS  higher by 0.33
percent, the consumer staples sector up 0.02 percent, the real
estate index up 1.1 percent and the healthcare sub-index down
3.83 percent.
 
** Shares in China's drugmakers extended losses, as investor
worries deepen over the steep price cuts following bidding
results in volume-based drug procurement negotiations. The
CSI300 healthcare index  .CSI300HC  is 3.8 percent lower at
midday.  urn:newsml:reuters.com:*:nL4N1YC1DU
 
** President Donald Trump did not know about plans to arrest a
top executive at Chinese telecoms giant Huawei in Canada, 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
 
** Regional equity markets regained some footing on Friday after
the Wall Street Journal reported that U.S. Federal Reserve
officials are considering whether to signal a new wait-and-see
mentality after a likely December rate hike.  urn:newsml:reuters.com:*:nL4N1YB62Q
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.06
percent at 10,474.2, while the Hang Seng Index  .HSI  was up
0.27 percent at 26,226.79. 
 
** The smaller Shenzhen index  .SZSC  was up 0.12 percent and
the start-up board ChiNext Composite index  .CHINEXTP  was
weaker by 0.23 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.58 percent while Japan's Nikkei
index  .N225  was up 0.51 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.872 per U.S. dollar, 0.15
percent firmer than the previous close of 6.882. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Fujian Raynen Technology Co Ltd  603933.SS , up 10
percent, followed by Eastern Communications Co Ltd  600776.SS ,
gaining 8.3 percent and Hangzhou First Applied Material Co Ltd
 603806.SS , up by 6.79 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
8.94 percent.
 
** So far this year, the Shanghai stock index is down 21.23
percent, while China's H-share index is down 10.5 percent.
Shanghai stocks have risen 0.66 percent this month. 
 
** The top gainers among H-shares were CITIC Ltd  0267.HK , up
3.02 percent, followed by Tencent Holdings Ltd  0700.HK ,
gaining 2.89 percent and China Vanke Co Ltd  2202.HK , up by
2.07 percent.
 
** The three biggest H-shares percentage decliners were
SINOPHARM GROUP CO LTD  1099.HK , which has fallen 5.46 percent,
CSPC Pharmaceutical Group Ltd  1093.HK , which has lost 5.1
percent and China Galaxy Securities Co Ltd  6881.HK , down by
3.1 percent.
 
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  dipped 0.8 percent while the IT sector
 .HSCIIT  rose 1.6 percent. The top gainer on the Hang Seng was
Hang Lung Properties Ltd  0101.HK , up 3.53 percent, while the
biggest loser was Sino Biopharmaceutical Ltd  1177.HK , which
was down 11.13 percent.
    

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China stock market graphics suite     http://reut.rs/1NfkoGl
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 (Reporting by Andrew Galbraith; Editing by Sunil Nair)
 ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))