Zhongnongfa Seed Industry Co logo

600313 - Zhongnongfa Seed Industry Co News Story

n/a 0.0  0.0%

Last Trade -

Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 0

China stocks end nearly flat as trade woes offset stimulus hopes

Wed 23rd January, 2019 7:22am
* Shanghai stocks higher, blue-chip CSI300 index down
    * China to step up fiscal spending this year to support
    * Trump won't soften hardline on China to make deal -

    SHANGHAI, Jan 23 (Reuters) - China's major stock indexes
ended nearly flat on Wednesday, as hopes of more stimulus
measures to shore up economic growth were offset by worries over
the Sino-U.S. trade dispute. 
    ** The blue-chip CSI300 index  .CSI300  slipped 0.1 percent
to 3,141.05 points, while the Shanghai Composite Index  .SSEC 
inched up 0.1 percent to 2,581.00 points.   
    ** China will step up fiscal spending this year to support
its economy, focusing on further cuts in taxes and fees for
small firms, finance ministry officials said on Wednesday.
    ** Mounting pressure on the world's second-biggest economy
pushed growth last year to its lowest since 1990 even as Beijing
stepped up stimulus measures and spurred banks to lend more.
    ** Putting a dent on sentiment was a report by the Financial
Times that the Trump administration had rejected an offer from
China for preparatory trade talks this week ahead of high-level
negotiations scheduled for next week.  urn:newsml:reuters.com:*:nS0N1YG02K 
    ** White House economic adviser Larry Kudlow pushed back
against reports that a preliminary trade meeting between U.S.
and Chinese officials was cancelled, saying the story was not
true.  urn:newsml:reuters.com:*:nL1N1ZM1JF 
    ** As much as U.S. President Donald Trump wants to boost
markets through a trade pact with China, he will not soften his
position that Beijing must make real structural reforms,
including how it handles intellectual property, to reach a deal,
advisers say.  urn:newsml:reuters.com:*:nL1N1ZN02M 
    ** Huawei suppliers and Chinese telecom stocks were in
retreat, after United States said it will seek extradition of
the telecoms giant's CFO.  urn:newsml:reuters.com:*:nL3N1ZN1AW  urn:newsml:reuters.com:*:nL1N1ZM12Y   
    ** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was weaker by 0.07 percent, while Japan's Nikkei
index  .N225  closed down 0.14 percent.
    ** At 07:11 GMT, the yuan  CNY=CFXS  was quoted at 6.7859
per U.S. dollar, 0.32 percent firmer than the previous close of
    ** The largest percentage gainers in the main Shanghai
Composite index were Zhongnongfa Seed Industry Group Co Ltd
 600313.SS , up 10.13 percent, followed by Beijing Dynamic Power
Co Ltd  600405.SS , gaining 10.11 percent and Sichuan Hongda Co
Ltd  600331.SS , up by 10.11 percent.
    ** The largest percentage losers in the Shanghai index were
Xinjiang Winka Times Department Store Co Ltd  603101.SS , down
10 percent, followed by Wintime Energy Co Ltd  600157.SS  losing
9.8 percent and GuangYuYuan Chinese Herbal Medicine Co Ltd
 600771.SS  falling 9.13 percent.
    ** So far this year, the Shanghai stock index is up 3.5
percent and the CSI300 has risen 4.3 percent, while China's
H-share index listed in Hong Kong is up 5 percent.
    ** As of 07:12 GMT, China's A-shares were trading at a
premium of 17.51 percent over the Hong Kong-listed H-shares.

 (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)
 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.