Financials, consumer weigh on China A-shares as tech lifts Hang Seng

JD Logistics

02/11/2021 04:43

* SSEC -0.62%, CSI300 -0.67%, HSI +0.74%
    * HK tech shares jump, Bilibili up over 8%
    * Yuan softens toward 6.4 per dollar

    SHANGHAI, Nov 2 (Reuters) - Chinese shares fell on Tuesday,
dragged lower by financials and consumer firms even as the
country's cabinet pledged more support for the consumer services
sector, while tech stocks drove Hong Kong's Hang Seng index
higher.

** At the midday break, the Shanghai Composite index  .SSEC  was
down 0.62% at 3,522.33 points. 
 
** China's blue-chip CSI300 index  .CSI300  was down 0.67%, with
its financial sector sub-index  .CSI300FS  lower by 2.07%, the
consumer staples sector  .CSI000912  down 0.4%, the real estate
index  .CSI000952  down 1.33% and the healthcare sub-index
 .CSI300HC  down 0.13%.
 
** China's cabinet issued guidelines to develop consumer
services, including increased financial support for small firms
providing catering, accommodation, childcare, healthcare and
services for the elderly. urn:newsml:reuters.com:*:nL4N2RT0QA
 
** Energy firms also fell, with an index tracking the sector
 .CSIEN  down 2.44% after dropping nearly 13% on Monday. China
said on Sunday it was releasing gasoline and diesel reserves to
boost market supply and stabilise prices.  urn:newsml:reuters.com:*:nL1N2RS04U
 
** Chinese H-shares listed in Hong Kong  .HSCE  rose 0.72% to
8,963.72, while the Hang Seng Index  .HSI  was up 0.74% at
25,339.33. 
 
** The broad index was lifted by gains in the tech sector
 .HSTECH , which rose 2.29%. Meituan  3690.HK  rose 5%, while
game publisher Bilibili  9626.HK  rose 8.18% after five sessions
of losses.
 
** The smaller Shenzhen index  .SZSC  was unchanged for the day,
the start-up board ChiNext Composite index  .CNT  was higher by
1.1% and Shanghai's tech-focused STAR50 index  .STAR50  was up
0.96%​.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.29% while Japan's Nikkei index
 .N225  was down 0.44%.
 
** The yuan  CNY=CFXS  was quoted at 6.3992 per U.S. dollar,
0.02% weaker than the previous close of 6.3982. 
 
** So far this year, the Shanghai stock index is up 1.4%​ and
the CSI300 has fallen 6.8%, while China's H-share index listed
in Hong Kong is down 16.5%. Shanghai stocks have declined 0.7%
this month. 
 

 (Reporting by Andrew Galbraith; Editing by Subhranshu Sahu)
 ((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))