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China stocks slump as developers, consumers fall

Wed 7th February, 2018 7:01am
* Shanghai stocks lower, blue-chip CSI300 index down 
    * Gains in Shanghai stocks led by Zhongnongfa Seed Industry 
MeiDu Energy Corp leads losses 
    * China's A-shares are at 36.29 pct premium over H-shares 
    SHANGHAI, Feb 7 (Reuters) - China stocks reversed earlier 
gains encouraged by a rebound on Wall Street and dropped to 
one-month lows on Wednesday, as investors sold off real estate 
and consumer firms that had handsome gains in recent months. 
** An index tracking major developers  .CSI300REI  plummeted 7.6 
percent, posting its worst percentage fall since July 2015. The 
index had been on a five-month winning-streak until February.    
** At the close, the Shanghai Composite index  .SSEC  was down 
61.07 points or 1.81 percent at 3,309.58. 
** The blue-chip CSI300 index was down 2.38 percent, with its 
financial sector sub-index  .CSI300FS  lower by 3.38 percent, 
the consumer staples sector down 4.2 percent and healthcare 
sub-index down 1.34 percent. 
** The smaller Shenzhen index  .SZSC  ended down 0.68 percent 
and the start-up board ChiNext Composite index  .CHINEXTP  was 
higher by 1.14 percent. 
** Around the region, MSCI's Asia ex-Japan stock index 
 .MIAPJ0000PUS  was weaker by 0.1 percent while Japan's Nikkei 
index  .N225  closed up 0.16 percent. 
** At 07:04 GMT, the yuan  CNY=CFXS  was quoted at 6.2584 per 
U.S. dollar, 0.36 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 
10.18 percent, followed by Kunwu Jiuding Investment Holdings Co 
Ltd  600053.SS  gaining 10.03 percent and Shanghai Diesel Engine 
Co Ltd  600841.SS  up by 9.98 percent. 
** The largest percentage losses in the Shanghai index were 
MeiDu Energy Corp  600175.SS  down 10.05 percent, followed by 
Zhejiang XinAn Chemical Industrial Group Co Ltd  600596.SS  
losing 10.03 percent and Guizhou Chitianhua Co Ltd  600227.SS  
down by 10.02 percent. 
** So far this year, the Shanghai stock index is up 1.92 
percent, the CSI300 is up 0.5 percent this year, while China's 
H-share index listed in Hong Kong is up 8.3 percent. Shanghai 
stocks have declined 3.17 percent this month.  
** About 26.09 billion shares were traded on the Shanghai 
exchange, roughly 122.6 percent of the market's 30-day moving 
average of 21.29 billion shares a day. The volume in the 
previous trading session was 28.06 billion. 
** As of 07:05 GMT, China's A-shares were trading at a premium 
of 36.28 percent over the Hong Kong-listed H-shares. 
** The Shanghai stock index is below its 50-day moving average 
and above its 200-day moving average. 
** The price-to-earnings ratio of the Shanghai index was 15.63 
as of the last full trading day while the dividend yield was 1.9 
** So far this week, the market capitalisation of the Shanghai 
stock index has fallen by -2.22 percent to 29.98 trillion yuan. 
 (Reporting by Shanghai Newsroom; Editing by Jacqueline Wong) 
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