China stocks fall on tech shares; Hong Kong mixed

Sino Land

06/06/2019 05:48

SHANGHAI, June 6 (Reuters) - China stocks fell on Thursday
morning, as Shenzhen's start-up board ChiNext dropped sharply
amid signs Shanghai will soon kick off a competing technology
board that will potentially divert funds.   
    
** The CSI300 index  .CSI300  fell 0.2%, to 3,589.90 points, at
the end of the morning session, while the Shanghai Composite
Index  .SSEC  lost 0.5%, to 2,848.34 points.
    
** The Hang Seng index  .HSI  added 0.2%, to 26,953.88 points,
while the Hong Kong China Enterprises Index  .HSCE  lost 0.2%,
to 10,327.64.
    
** Shenzhen's ChiNext plunged 1.6% to a 3-month low, souring
sentiment on the mainland. Late on Wednesday, the Shanghai Stock
Exchange gave approval to three companies that seek to list on
Shanghai's Science & Technology Innovation board, signalling an
imminent launch of the new marketplace.
    
** The International Monetary Fund (IMF) cut its 2019 economic
growth forecast for China to 6.2% from 6.3% on heightened
uncertainty around trade frictions.  urn:newsml:reuters.com:*:nL4N23C1M0
    
** Meanwhile, shares in China's 5G-related firms slumped, as
investors pocketed gains after news that Beijing granted 5G
licences to major carriers. An index tracking China's
telecommunication service shares  .CSI000994  fell over
3%. urn:newsml:reuters.com:*:nL4N23D0K5
    
** The dual-listed ZTE  000063.SZ   0763.HK  fell more 
than 3% each in Shenzhen and Hong Kong.

** Investors also dumped shares in Huawei  HWT.UL  suppliers,
including China-listed Shengyi Technology Co Ltd  600183.SS  and
Hong Kong-listed Sunny Optical Technology  2382.HK , following a
report that the Chinese tech giant cut orders to key suppliers
after U.S. blacklisting. 
    
** China's CSI300 financial sector sub-index  .CSI300FS  was
higher by 0.31%, the consumer staples sector  .CSI000912  down
0.73%, the real estate index  .CSI000952  up 0.05% and the
healthcare sub-index  .CSI300HC  was down 0.91%. 
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.11%, while Japan's Nikkei index
 .N225  was up 0.26%.
 
** The yuan  CNY=CFXS  was quoted at 6.913 per U.S. dollar,
0.06% weaker than the previous close of 6.909. 
 
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  dipped 1.8%, while the IT sector
 .HSCIIT  fell 0.4%. The top gainer on the Hang Seng was Sino
Land Co Ltd  0083.HK , up 2.38%, while the biggest loser was
CNOOC Ltd  0883.HK , which was down 3.23%.

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China stock market graphics suite     http://reut.rs/1NfkoGl
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 (Reporting by Samuel Shen and John Ruwitch; Editing by
Subhranshu Sahu)
 ((samuel.shen@tr.com))