China stocks inch lower amid growth concerns; developers rise

Hengan International

16/01/2019 04:52

* SSEC -0.1 pct, CSI300 -0.1 pct, HSI -0.3 pct
    * Real estate firms rise after buoyant December data
    * China c.bank makes biggest-ever open market injection

    SHANGHAI, Jan 16 (Reuters) - China's main stock indexes
edged lower on Wednesday amid ongoing uncertainty about growth
outlook, but resilient home prices and government efforts to
boost the economy kept declines in check.
 
** At the midday break, the Shanghai Composite index  .SSEC  was
down 0.06 percent at 2,568.88. 
 
** China's blue-chip CSI300 index  .CSI300  fell 0.09 percent,
with its financial sector sub-index  .CSI300FS  lower by 0.06
percent and the healthcare sub-index up 1.04 percent.
 
** Property shares rose after new data showed Chinese home
prices remained buoyant in December despite tough government
curbs. An index tracking real estate firms  .CSI000948  gained
0.57 percent.  urn:newsml:reuters.com:*:nL3N1W1023
 
** China's central bank made its largest net injection via
reverse repo operations on record, adding to evidence that
Beijing is shifting to policy easing to counter a slowing
economy.  urn:newsml:reuters.com:*:nL3N1ZG1DF
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.14
percent to 10,487.43 points, while the Hang Seng Index  .HSI 
was down 0.25 percent at 26,763.58. 
 
** The smaller Shenzhen index  .SZSC  was unchanged for the day
and the start-up board ChiNext Composite index  .CHINEXTP  rose
0.14 percent.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.07 percent while Japan's Nikkei
index  .N225  eased 0.62 percent.
 
** The yuan  CNY=CFXS  was quoted at 6.7693 per U.S. dollar,
0.12 percent weaker than the previous close of 6.761. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Wintime Energy Co Ltd  600157.SS , up 10.17 percent,
followed by Gansu Guofang Industry & Trade Group Ltd by Share
Ltd  601086.SS , gaining 10.06 percent, and Shanghai No.1
Pharmacy Co Ltd  600833.SS , up by 10.04 percent.
 
** The largest percentage losses in the Shanghai index were
Sanan Optoelectronics Co Ltd  600703.SS , down 10 percent,
followed by Zhongchang Big Data Corp Ltd  600242.SS , losing 8.2
percent and Shenzhen Geoway Co Ltd  600462.SS , down by 5
percent.
 
** So far this year, the Shanghai stock index is up 3.07
percent, while China's H-share index is up 3.7 percent. Shanghai
stocks have risen 3.07 percent this month. 
 
** The top gainers among H-shares were CSPC Pharmaceutical Group
Ltd  1093.HK , up 4.03 percent, followed by Hengan International
Group Company Ltd  1044.HK , gaining 3.96 percent and CITIC
Securities Co Ltd  6030.HK , up by 3.47 percent.
 
** The three biggest H-shares percentage decliners were China
Gas Holdings Ltd  0384.HK , which has fallen 2.47 percent, China
Resources Land Ltd  1109.HK , which has lost 2.1 percent and
Huaneng Power International Inc  0902.HK , down by 1.8 percent.
 
** About 9.05 billion shares have traded so far on the Shanghai
exchange, roughly 65.9 percent of the market's 30-day moving
average of 13.73 billion shares a day. The volume traded was
16.03 billion as of the last full trading day.
 
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  dipped 0.3 percent while the IT sector
 .HSCIIT  fell 0.6 percent. The top gainer on the Hang Seng was
CSPC Pharmaceutical Group Ltd  1093.HK , up 4.03 percent, while
the biggest loser was Sunny Optical Technology Group Co Ltd
 2382.HK , which was down 2.66 percent.
    

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 (Reporting by Andrew Galbraith; Editing by Shreejay Sinha)
 ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))