China stocks flat on trade uncertainty, caution over economy

Shenzhou International group

10/12/2019 07:52

SHANGHAI, Dec 10 (Reuters) - China stocks were nearly flat
on Tuesday and trading was thin, 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 prolonged trade war.
    
** Investors remain circumspect after 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.
    
** The blue-chip CSI300 index  .CSI300  rose 0.1% to 3,900.38,
while the Shanghai Composite Index  .SSEC  also gained 0.1% to
2,917.32 points.   
    
** 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 sober investor sentiment, shares of Postal Savings
Bank of China (PSBC)  601658.SS  staged a subdued Shanghai debut
on Tuesday. The shares rose 2% to 5.61 yuan, compared with the
IPO price of 5.50 yuan. 
    
** China's CSI 300 financial sector sub-index  .CSI300FS  dipped
0.29%, the consumer staples sector  .CSI000912  was down 0.5%,
the real estate index  .CSI000952  lost 0.54% and the healthcare
sub-index  .CSI300HC  rose 0.98%.
 
** Chinese H-shares listed in Hong Kong  .HSCE  fell 0.03% to
10,403.77, while the Hang Seng Index  .HSI  was down 0.11% at
26,464.95. 
 
** The smaller Shenzhen index  .SZSC  was up 0.38% and the
start-up board ChiNext Composite index  .CNT  was higher by
0.75%.
 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.16%, while Japan's Nikkei index
 .N225  was down 0.09%.
 
** The largest percentage gainers in the main Shanghai Composite
index were Jiangsu Etern Co Ltd  600105.SS , up 10.11%, followed
by Nanning Department Store Co Ltd  600712.SS , gaining 10.05%
and Zhejiang Sunriver Culture Co Ltd  600576.SS , up by 10.04%.
 
** The biggest percentage losers in the Shanghai index were
Shanghai Chuangli Group Co Ltd  603012.SS , down 7.22%, followed
by Lanzhou Minbai Shareholding Group Co Ltd  600738.SS , losing
5.21% and Jiangsu Zijin Rural Commercial Bank Co Ltd
 601860.SS , down by 4.93%.

 (Reporting by Shanghai Newsroom; Editing by Shounak Dasgupta)
 ((samuel.shen@tr.co))