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China stocks tepid, investors ponder trade spat developments

Mon 9th April, 2018 8:38am
* Shanghai stocks higher, blue-chip CSI300 index down
    * Gains in Shanghai stocks led by Xinjiang Sayram Modern
Agriculture Co Ltd and losses by Taiyuan Lionhead Cement Co Ltd
    * China's A-shares are at a 23.45 percent premium over
H-shares

    SHANGHAI, April 9 (Reuters) - China stocks were tepid on
Monday as investors pondered the developments in the simmering
China-U.S. trade spat. 
** At the close, the Shanghai Composite index  .SSEC  was up 0.3
percent at 3,138.29, while the blue-chip CSI300 index  .CSI300 
was down 0.1 percent at 3,852.93. 
 
** The smaller Shenzhen index  .SZSC  ended unchanged for the
day and the start-up board ChiNext Composite index  .CHINEXTP 
was higher by 0.26 percent. 
** U.S. President Donald Trump predicted on Sunday that China
would take down its trade barriers, expressing optimism despite
escalating trade tensions between the world's two largest
economies that have roiled global markets in the past week.
 urn:newsml:reuters.com:*:nL1N1RL07Z 
** China's trade frictions with the United States will not have
a big impact on China's economy, a state planner researcher said
on Monday.  urn:newsml:reuters.com:*:nB9N1R4024 
** "There is rising uncertainty amid the China-U.S. trade spat,
though expectations of material impact (from the spat) have
faded," Sinolink Securities wrote in a note, adding the market
was somewhat prepared for the Section 301 trade spat after the
imposition of steel and aluminium tariffs.

** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.64 percent while Japan's Nikkei
index  .N225  closed up 0.51 percent.
 
** At 07:03 GMT, the yuan  CNY=CFXS  was quoted at 6.3112 per
U.S. dollar, 0.13 percent weaker than the previous close of
6.3027. 
 
** The largest percentage gainers in the main Shanghai Composite
index were Xinjiang Sayram Modern Agriculture Co Ltd  600540.SS 
up 10.1 percent, followed by BGRIMM Technology Co Ltd
 600980.SS  gaining 10.03 percent and Beijing Jingcheng
Machinery Electric Co Ltd  600860.SS  up by 10.03 percent.
 
** The largest percentage losses in the Shanghai index were
Taiyuan Lionhead Cement Co Ltd  600539.SS  down 9.96 percent,
followed by Wintime Energy Co Ltd  600157.SS  losing 9.93
percent and Henan Ancai Hi-tech Co Ltd  600207.SS  down by 6.21
percent.
** As of 07:04 GMT, China's A-shares were trading at a premium
of 23.45 percent over the Hong Kong-listed H-shares.

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