Shanghai stocks close at three-month low on escalating Sino-U.S. trade tensions

Inner Mongolia Yitai Coal Co

29/11/2019 07:47

SHANGHAI, Nov 29 (Reuters) - China stocks closed lower on
Friday, with the benchmark Shanghai index ending at a
three-month low, as doubts emerged regarding the prospects of
Sino-U.S. tariff talks, amid fresh trade-war headlines.
    ** The blue-chip CSI300 index  .CSI300  fell 0.9%, to
3,828.67, while the Shanghai Composite index  .SSEC  ended down
0.6% at 2,871.98, the lowest closing level since Aug. 26. 
    ** For the week, CSI300 shed 0.6%, while SSEC retreated
0.5%, both logging third straight week of drops. 
    ** Sino-U.S. tensions flared after the U.S. government's
decision to sign a bill backing anti-government protesters in
Hong Kong. 
    ** China warned the United States on Thursday that it would
take "firm counter measures" in response to U.S. legislation
backing anti-government protesters in Hong Kong.  urn:newsml:reuters.com:*:nL4N2880S4  
    ** For the day, health care firms led the declines, with the
CSI300 healthcare index  .CSI300HC  losing 2.8%, after
drugmakers slashed prices in China.  urn:newsml:reuters.com:*:nL4N2890PU  
    ** China on Thursday reiterated its pledge to further widen
market access for foreign capital and lower non-tariff trade
barriers, as it aims to boost flagging trade amid a slowing
economy and a trade war with the United States.  urn:newsml:reuters.com:*:nL4N28838U  
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.14%, while Japan's Nikkei index
 .N225  closed down 0.49%.
    ** At 07:12 GMT, the yuan  CNY=CFXS  was quoted at 7.0336
per U.S. dollar, 0.02% firmer than the previous close of 7.0348.
    ** So far this year, the Shanghai stock index is up 15.2%
and the CSI300 has risen 27.2%, while China's H-share index
listed in Hong Kong is up 1.7%. Shanghai stocks have declined
1.95% this month. 
    ** About 12.26 billion shares were traded on the Shanghai
exchange, roughly 84.2% of the market's 30-day moving average of
14.57 billion shares a day. The volume in the previous trading
session was 11.95 billion.
    ** As of 07:12 GMT, China's A-shares were trading at a
premium of 29.37% over the Hong Kong-listed H-shares.

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