August 13, 2018 / 7:21 AM / 2 months ago

China stocks end lower; techs gain

* Shanghai stocks lower, blue-chip CSI300 index down

* Losses in Shanghai stocks led by HNA Infrastructure Investment Group Co

* China’s A-shares at 17.09 pct premium over H-shares

SHANGHAI, Aug 13 (Reuters) - China stocks ended lower on Monday, but managed to recoup most of their earlier losses aided by gains in shares of tech firms. ** The blue-chip CSI300 index fell 0.4 percent to 3,390.34 points while the Shanghai Composite Index ended down 0.3 percent at 2,785.87 points. ** Both the indexes slumped in early morning trade, tracking a global selloff, as investors reacted to a renewed rout in the Turkish lira that dampened risk appetite for emerging markets. ** The lira tumbled on worries over Turkish President Tayyip Erdogan’s increasing control over the economy and deteriorating relations with the United States. ** Most sectors lost ground for the day, though tech firms bucked the trend, with the tech heavy start-up board index closing 1.3 percent higher. ** An index tracking IT firms gained 2 percent, with more than 10 IT firms closing higher at the maximum allowed limit of 10 percent. ** China’s leading tech firms have been rallying on hopes of policy boost from Beijing as the country aims to reduce its dependence on foreign technology amid trade frictions with the United States. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.51 percent while Japan’s Nikkei index closed down 1.98 percent. ** At 07:01 GMT, the yuan was quoted at 6.8737 per U.S. dollar, 0.43 percent weaker than the previous close of 6.844. ** The largest percentage gainers in the main Shanghai Composite index were Shenma Industry Co Ltd, up 10.03 percent, followed by Dynagreen Environmental Protection Group Co Ltd , up 10.02 percent and Qibu Corp Ltd, up 10.02 percent. ** The largest percentage losers in the Shanghai index were HNA Infrastructure Investment Group Co Ltd, down 10.04 percent, followed by Ningbo Lehui International Engineering Equipment Co Ltd, down 9.02 percent and Zhejiang Three Stars New Materials Co Ltd, down 7.25 percent. ** So far this year, the Shanghai stock index is down 15.8 percent and the CSI300 has fallen 15.9 percent while China’s H-share index listed in Hong Kong is down 8.2 percent. Shanghai stocks have declined 3.13 percent this month. ** About 12.75 billion shares were traded on the Shanghai exchange, roughly 91.1 percent of the market’s 30-day moving average of 14.00 billion shares a day. The volume in the previous trading session was 12.15 billion. ** As of 07:02 GMT, China’s A-shares were trading at a premium of 17.09 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. (Reporting by Shanghai Newsroom; Editing by Vyas Mohan)

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