April 20, 2018 / 7:33 AM / 8 months ago

China stocks post worst week in a month on trade war woes

* Shanghai stocks lower, blue-chip CSI300 index down

* Losses led by Suzhou Secote Precision Electronic

* China’s A-shares at 21.69 pct premium over H-shares

SHANGHAI, April 20 (Reuters) - China stocks fell on Friday to have their worst week in a month, amid lingering worries over the simmering trade tensions between China and the United States. ** The blue-chip CSI300 index closed down 1.3 percent at 3,760.85, while the Shanghai Composite Index dropped 1.5 percent to 3,071.54. ** For the week, CSI300 declined 2.9 percent, while SSEC shed 2.8 percent, both logging their worst week since late March. ** Caution prevailed as worries persisted over the trade stand-off between China and the United States. ** China’s ZTE Corp said on Friday a ban on the sale of parts and software to the company was unfair and threatens its survival, and vowed to safeguard its interests through all legal means. ZTE stock is still suspended in Hong Kong and Shanghai. ** The ZTE ban has ratcheted up tensions between China and the United States at a time when they have already threatened each other with tens of billions of dollars in tariffs. ** The U.S. Treasury is considering ways to restrict sensitive Chinese investments in the United States by invoking an emergency powers law and bringing forward some security review reforms for corporate acquisitions, a senior Treasury official said on Thursday. ** Sectors slid across the board on Friday, led by brokerages which have been reporting drops in 2017 profits. ** Airlines were also sold, led by a 5 percent loss in China Southern Airlines, as rising oil prices added pressure to the airlines’ fuel costs. ** Bucking the broad trend, China’s semiconductor firms rallied as Beijing looks to speed up chip plans. ** China has already made the semiconductor market a key priority under its “Made in China 2025” strategy to cut reliance on foreign technologies and create its own domestic champions, and that goal has been given fresh urgency after the ZTE ban. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai Zhongyida Co Ltd up 10.09 percent, followed by L&K Engineering Suzhou Co Ltd gaining 10 percent and Shenzhen Huiding Technology Co Ltd up by 10 percent. ** The largest percentage losses in the Shanghai index were Suzhou Secote Precision Electronic Co Ltd down 10.01 percent, followed by Shanghai LongYun Advertising & Media Co Ltd losing 9.99 percent and RoadMainT Co Ltd down by 9.99 percent. ** As of 07:15 GMT, China’s A-shares were trading at a premium of 21.69 percent over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Gopakumar Warrier)

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