China, HK stocks drop as fresh Sino-U.S. dispute dents sentiment

Wharf Real Estate Investment

21/11/2019 04:37

* SSEC -0.4%, CSI300 -0.6%, HSI -1.6%
    * HK->Shanghai Connect daily quota used -1.2%, Shanghai->HK
daily
quota used 4.1%
    * FTSE China A50 -0.8% 

    SHANGHAI, Nov 21(Reuters) - China and Hong Kong stocks on
Thursday extended losses to a second session as a fresh dispute
between Washington and Beijing over Hong Kong stoked concerns
that an interim trade deal could slide into next year. 
    ** The CSI300 index  .CSI300  was down 0.6% at 3,885.32
points, while the Shanghai Composite Index  .SSEC  lost 0.4% to
2,899.56 points. 
    ** The Hang Seng index  .HSI  dropped 1.6% to 26,456.23
points, while the Hong Kong China Enterprises Index  .HSCE  lost
1.5% to 10,458.92 points. 
    ** Completion of a "phase one" U.S.-China trade deal could
be pushed into next year, trade experts and people close to the
White House said, as Beijing presses for more extensive tariff
rollbacks, and the Trump administration counters with heightened
demands of its own.  urn:newsml:reuters.com:*:nL2N2800YS 
    ** In a dinner speech in Beijing on Wednesday, Vice Premier
Liu He said he was "cautiously optimistic" on a "phase one"
deal, Bloomberg News said, citing people who attended the event
ahead of a forum organized by Bloomberg LP. 
    ** The crackdown on anti-government protests in Hong Kong
may also complicate the completion of a deal. 
    ** The Hong Kong issue is definitely a negative factor in
the trade talks, Zhang Yansheng, principal researcher at the
state-affiliated think-tank China Center for International
Economic Exchanges, said at the Bloomberg forum on Thursday.
    ** The U.S. House of Representatives on Wednesday passed two
bills to back protesters in Hong Kong and send a warning to
China about human rights, with President Donald Trump expected
to sign them into law, despite delicate trade talks with
Beijing.  urn:newsml:reuters.com:*:nL2N2800W2   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 1.12%, while Japan's Nikkei index
 .N225  was down 0.73%.
    ** The yuan  CNY=CFXS  was quoted at 7.0385 per U.S. dollar,
0.03% weaker than the previous close of 7.0364. 
    ** So far this year, the Shanghai stock index advanced
16.73%, while China's H-share index rose 4.9%. Shanghai stocks
declined 0.61% so far this month. 
    ** As of 0414 GMT, China's A-shares were trading at a
premium of 27.98% over the Hong Kong-listed H-shares.

 (Reporting by Luoyan Liu and John Ruwitch, Editing by Sherry
Jacob-Phillips)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))