China stocks flat at midday; Hong Kong gains 0.2 pct

Want Want China Holdings

28/08/2018 05:41

* SSEC flat, CSI300 -0.1 pct, HSI +0.2 pct
    * Yuan weakens on corporate dollar buying despite stronger
fixing
    * State planner calls for stepped up measures to boost
investment

    SHANGHAI, Aug 28 (Reuters) - Chinese stocks took a breather
on Tuesday morning and were flat after strong gains on Monday,
as the central bank took steps to stabilise the yuan, and as
news of U.S. and Mexico agreeing to overhaul a trade pact
brought relief to the region.
    
** China's central bank raised its daily guidance rate for the
yuan by the most in nearly 15 months on Tuesday as part of its
latest move to put a floor under the currency.  urn:newsml:reuters.com:*:nL3N1VJ1JP
    
** China's state planner said Monday the country's investment
growth, already at record lows, may weaken even further in the
future and authorities should step up fiscal and financial
measures to give it a boost.  urn:newsml:reuters.com:*:nL3N1VI1T7
    
** The U.S. Commerce Department said on Monday it had made a
preliminary determination that imports of certain steel wheels
from China were subsidized, and that it would impose duties.
 urn:newsml:reuters.com:*:nL2N1VI1TM
    
** The United States and Mexico agreed on Monday to overhaul the
North American Free Trade Agreement (NAFTA), putting pressure on
Canada to agree to new terms on auto trade and dispute
settlement rules to remain part of the three-nation pact.
 urn:newsml:reuters.com:*:nL2N1VI0EY
    
** At the midday break, the Shanghai Composite index was almost
unchanged 2,780.98.
    
** China's blue-chip CSI300 index  .CSI300  was down less than
0.1 percent, with its financial sector sub-index  .CSI300FS 
lower by 0.29 percent, the consumer staples sector down 0.94
percent, the real estate index up 0.19 percent and the
healthcare sub-index down 0.26 percent.
    
** Chinese H-shares listed in Hong Kong  .HSCE  rose 0.25
percent at 11,076.46, while the Hang Seng Index  .HSI  was up
0.24 percent at 28,340.20.
    
** The smaller Shenzhen index  .SZSC  was unchanged for the day
and the start-up board ChiNext Composite index  .CHINEXTP  was
weaker by 0.13 percent.
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.46 percent while Japan's Nikkei
index  .N225  was up 0.48 percent.
    
** The yuan  CNY=CFXS  was quoted at 6.818 per U.S. dollar, 0.03
percent weaker than the previous close of 6.816.
    
** The largest percentage gainers in the main Shanghai Composite
index were Shijiazhuang Kelin Electric Co Ltd  603050.SS , up
10.03 percent, followed by SEC Electric Machinery Co Ltd
 603988.SS , gaining 10.02 percent and Huada Automotive
Technology Co Ltd  603358.SS , up by 10.01 percent.
    
** The largest percentage losses in the Shanghai index were
Shenzhen Geoway Co Ltd  600462.SS , down 10.06 percent, followed
by Shangying Global Co Ltd  600146.SS , losing 9.33 percent and
Fujian Longma Environmental Sanitation Equipment Co Ltd
 603686.SS , down by 8.19 percent.
    
** So far this year, the Shanghai stock index is down 15.91
percent, while China's H-share index is down 5.6 percent.
Shanghai stocks have declined 3.32 percent this month. 
    
** The top gainers among H-shares were Shenzhou International
Group Holdings Ltd  2313.HK , up 6.65 percent, followed by
Sinopharm Group Co Ltd  1099.HK , gaining 5.84 percent and China
Shenhua Energy Co Ltd  1088.HK , up by 3.28 percent.
 
** The three biggest H-shares percentage decliners were ZhongAn
Online P & C Insurance Co Ltd  6060.HK , which has fallen 5.39
percent, China Gas Holdings Ltd  0384.HK , which has lost 2.1
percent and Anhui Conch Cement Co Ltd  0914.HK , down by 1.3
percent.
    
** About 7.29 billion shares have traded so far on the Shanghai
exchange, roughly 54.3 percent of the market's 30-day moving
average of 13.43 billion shares a day. The volume traded was
13.28 billion as of the last full trading day.
    
** At midday, China's A-shares were trading at a premium of
17.47 percent over Hong Kong-listed H-shares.
   
** The Shanghai stock index is below its 50-day moving average
and below its 200-day moving average.

** The price-to-earnings ratio of the Shanghai index was 12 as
of the last full trading day, while the dividend yield was 2.7
percent.
    
** So far this week, the market capitalisation of the Shanghai
stock index has risen by 1.88 percent to 29.60 trillion yuan.
    
** In Hong Kong, the sub-index of the Hang Seng index tracking
energy shares  .HSCIE  rose 0.5 percent while the IT sector
 .HSCIIT  rose 0.6 percent. The top gainer on Hang Seng was Want
Want China Holdings Ltd  0151.HK , up 3.3 percent, while the
biggest loser was Country Garden Holdings Co Ltd  2007.HK ,
which was down 3.29 percent.

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China stock market graphics suite     http://reut.rs/1NfkoGl
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 (Reporting by Andrew Galbraith; Editing by Gopakumar Warrier)
 ((Andrew.Galbraith@tr.com; +86 21 6104 1779; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))