China, HK stocks dip as U.S. tariff deadline looms, economic slowdown persists

Shenzhou International group

10/12/2019 04:57

SHANGHAI, Dec 10 (Reuters) - China and Hong Kong stocks
dipped on Tuesday, as investors waited to see if the United
States would slap fresh tariffs on Chinese goods on Dec. 15, a
move that was likely to complicate efforts to defuse the
protracted trade war.
    
** Sentiment also suffered as data showed China's producer
prices fell for the fifth consecutive month in November, while
consumer prices spiked as food costs climbed, complicating
policymakers' efforts to boost demand as economic growth slows.
 urn:newsml:reuters.com:*:nL4N28K0IY
    
**  The CSI300 index  .CSI300  fell 0.2%, to 3,888.95 points at
the end of the morning session, while the Shanghai Composite
Index  .SSEC  lost 0.2%, to 2,908.59 points. 

** The Hang Seng index  .HSI  dropped 0.1%, to 26,471.58 points.
The Hong Kong China Enterprises Index  .HSCE  lost 0.1%, to
10,402.80.
    
** A Chinese official said on Monday Beijing hopes to make a
trade deal with Washington as soon as possible before new U.S.
tariffs are due to kick in this weekend, but investors are
refraining from making big bets on an interim deal. 
    
** Reflecting weak investor sentiment, shares of Postal Savings
Bank of China (PSBC)  601658.SS  staged a subdued Shanghai debut
on Tuesday after a $4-billion share sale. They  601658.SS  rose
1.1% to 5.56 yuan by midday, compared with the IPO price of 5.5
yuan apiece. 

    
** China's CSI300 financial sector sub-index  .CSI300FS  dipped
0.4%, the consumer staples sector  .CSI000912  down 0.82%, the
real estate index  .CSI000952  down 0.53% and the healthcare
sub-index  .CSI300HC  up 0.56%.
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.05% to
10,402.8, while the Hang Seng Index  .HSI  was down 0.09% at
26,471.58. 
 
** The smaller Shenzhen index  .SZSC  was down 0.19% and the
start-up board ChiNext Composite index  .CNT  was higher by
0.11%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.15%, while Japan's Nikkei index
 .N225  was down 0.07%.
 
** The yuan  CNY=CFXS  was quoted at 7.0384 per U.S. dollar,
0.02% firmer than the previous close of 7.0395. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Nanning Department Store Co Ltd  600712.SS , up
10.05%, followed by Guirenniao Co Ltd  603555.SS , gaining
10.02% and Harbin VITI Electronics Corp  603023.SS , up by
10.02%.
 
** The largest percentage losses in the Shanghai index were
Shanghai Chuangli Group Co Ltd  603012.SS , down 6.46%, followed
by Jiangsu Zijin Rural Commercial Bank Co Ltd  601860.SS ,
losing 5.81% and Pulike Biological Engineering Inc  603566.SS ,
down by 5.59%.
 
** So far this year, the Shanghai stock index is up 16.86%,
while China's H-share index is up 2.8%. Shanghai stocks have
risen 1.48% this month. 
 
** The top gainers among H-shares were New China Life Insurance
Co Ltd  1336.HK , up 2.44%, followed by China Taiping Insurance
Holdings Co Ltd  0966.HK , gaining 2.19% and Geely Automobile
Holdings Ltd  0175.HK , up by 1.48%.
 
** The three biggest H-shares percentage decliners were ANTA
Sports Products Ltd  2020.HK , which has fallen 3.25%, Shenzhou
International Group Holdings Ltd  2313.HK , which has lost 2.86%
and CSPC Pharmaceutical Group Ltd  1093.HK , down by 1.41%.
 

 (Reporting by Samuel Shen and John Ruwitch; 
Editing by Arun Koyyur)
 ((samuel.shen@tr.com))