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China stocks fall as infrastructure, utilities firms weigh

Wed 22nd August, 2018 8:22am
* Shanghai stocks lower, blue-chip CSI300 index down
    * Shanghai losses led by Gansu Gangtai 
    * China A-shares at 16.20 percent premium over H-shares

    SHANGHAI, Aug 22 (Reuters) - China stocks fell on Wednesday,
weighed down by persistent economic concerns and worries over
the outlook for trade ahead of lower-level talks between
Washington and Beijing.
** The blue-chip CSI300 index  .CSI300  fell 0.6 percent to
3,307.95 points, while the Shanghai Composite Index  .SSEC 
ended down 0.7 percent at 2,714.61 points.       
** Trading activity was thin, with Shanghai stocks seeing the
lowest trading volume in one and half years. 
** Most sectors retreated, led by infrastructure  .CSI300II  and
utilities firms  .CSI300UT . 
** China's central bank on Tuesday said it will not resort to
strong stimulus to support the slowing economy but will keep
liquidity reasonably ample and offer more help to companies
which are having trouble obtaining financing.  urn:newsml:reuters.com:*:nL3N1VC39M 
** Meetings expected to take place on Wednesday and Thursday in
Washington are the first formal U.S.-China trade talks since
June, but U.S. President Donald Trump said he did not expect
much progress from the talks.  urn:newsml:reuters.com:*:nL3N1VD2LL   
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.15 percent while Japan's Nikkei
index  .N225  closed up 0.64 percent.
 
** At 07:04 GMT, the yuan  CNY=CFXS  was quoted at 6.8435 per
U.S. dollar, 0.11 percent firmer than previous close of 6.8513. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Aerosun Corp  600501.SS  up 10.07 percent, followed
by Hainan Haiqi Transportation Group Co Ltd  603069.SS  gaining
10.04 percent and Delixi Xinjiang Transportation Co Ltd
 603032.SS  up by 10.02 percent.
 
** The largest percentage losses in the Shanghai index were
Gansu Gangtai Holding Group Co Ltd  600687.SS  down 10.05
percent, followed by Shanghai Jahwa United Co Ltd  600315.SS 
losing 9.99 percent and Hylink Digital Solution Co Ltd
 603825.SS  down by 9.98 percent.
 
** So far this year, the Shanghai stock index is down 17.9
percent, the CSI300 has fallen 17.9 percent while China's
H-share index listed in Hong Kong is down 7.3 percent. Shanghai
stocks have declined 5.62 percent this month. 
** About 9.37 billion shares were traded on the Shanghai
exchange, roughly 68.5 percent of the market's 30-day moving
average of 13.68 billion shares a day. The volume in the
previous trading session was 11.36 billion.
** As of 07:05 GMT, China's A-shares were trading at a premium
of 16.20 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 11.87
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 2.53 percent to 29.06 trillion yuan.

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