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Vaccine scandal weighs on China shares; HK stocks climb

Fri 17th August, 2018 5:01am
* SSEC -0.4 pct, CSI300 -0.6 pct, HSI +0.5 pct * CSI healthcare sub-index down 3.6 pct * Trade war fears ease on news of fresh China-U.S. talks SHANGHAI, Aug 17(Reuters) - Shares in China fell on Friday, pulled down by healthcare companies after a vaccine maker warned it could be delisted due to an ongoing vaccine scandal, but planned talks between the United States and China helped ease trade war fears. ** China sacked a senior provincial official and is probing a former top drug regulator after a safety scandal at vaccine maker Changsheng Biotechnology Co Ltd, which again warned it could be delisted over the scandal. urn:newsml:reuters.com:*:nL4N1V746T ** China and the United States said their governments will hold lower-level trade talks this month, raising hope of an easing of tensions in an escalating trade war. urn:newsml:reuters.com:*:nL4N1V71F9 ** At the midday break, the Shanghai Composite index SSEC was down 10.67 points or 0.39 percent at 2,694.52. ** China's blue-chip CSI300 index .CSI300 was down 0.55 percent, weighed down by healthcare sub-index .CSI300HC , which is 3.58 percent lower. ** Changsheng Biotechnology shares 002680.SZ dropped 5 percent. ** The financial sector sub-index .CSI300FS is higher by 0.18 percent, the consumer staples sector is down 0.28 percent and the real estate index is up 0.03 percent. ** Around 0334 GMT, Chinese H-shares listed in Hong Kong .HSCE rose 0.35 percent at 10,516.87, while the Hang Seng Index .HSI was up 0.48 percent at 27,230.56. ** The smaller Shenzhen index .SZSC was down 0.74 percent and the start-up board ChiNext Composite index .CHINEXTP was weaker by 1.37 percent. ** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was firmer by 0.39 percent, while Japan's Nikkei index .N225 climbed 0.42 percent. ** The yuan CNY=CFXS was quoted at 6.8864 per U.S. dollar, 0.05 percent firmer than the previous close of 6.89. ** The largest percentage gainers in the main Shanghai Composite index were Red Avenue New Materials Group Co Ltd 603650.SS up 10.02 percent, followed by Jiangsu Nanfang Medical Co Ltd 603880.SS gaining 9.99 percent and Zhe Jiang Dong Ri Ltd Co 600113.SS up by 7.08 percent. ** The largest percentage losses in the Shanghai index were MeiDu Energy Corp 600175.SS down 10.1 percent, followed by Hylink Digital Solution Co Ltd 603825.SS losing 10.01 percent and Shangying Global Co Ltd 600146.SS down by 10 percent. ** So far this year, the Shanghai stock index is down -18.2 percent, while China's H-share index lost 10.5 percent. Shanghai stocks fell 5.95 percent this month. ** The top gainers among H-shares were China Vanke Co Ltd 2202.HK up 4.22 percent, followed by Tencent Holdings Ltd 0700.HK gaining 3.07 percent and Guangdong Investment Ltd 0270.HK up by 2.64 percent. ** The three biggest H-shares percentage decliners were CSPC Pharmaceutical Group Ltd 1093.HK , which fell 6.05 percent, CRRC Corp Ltd 1766.HK , which lost 4.6 percent and China Gas Holdings Ltd 0384.HK , which slipped 3.3 percent. ** About 5.61 billion shares have traded so far on the Shanghai exchange, roughly 40.6 percent of the market's 30-day moving average of 13.81 billion shares a day. The volume traded was 12.03 billion as of the last full trading day. ** As of 0334 GMT, China's A-shares were trading at a premium of 17.02 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 11.78 as of the last full trading day, while the dividend yield was 2.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by 3.20 percent to 28.73 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares .HSCIE was flat, while the IT sector .HSCIIT rose 2.2 percent. The top gainer on Hang Seng was Want Want China Holdings Ltd 0151.HK up 4.42 percent, while the biggest loser was CSPC Pharmaceutical Group Ltd 1093.HK which was down 6.05 percent. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ China stock market graphics suite http://reut.rs/1NfkoGl ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips) ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging: andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))
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