May 25, 2018 / 7:18 AM / 3 months ago

China stocks see worst week in over a month

* Shanghai stocks lower, blue-chip CSI300 index down

* Gains in Shanghai stocks led by Nanjing Inform Storage

* China’s A-shares at 20.54 pct premium over H-shares

SHANGHAI, May 25 (Reuters) - China’s major stock indexes fell on Friday to post their worst week in more than one month, as sentiment soured after U.S. President Donald Trump called off a planned June meeting with North Korean leader Kim Jong Un. ** The blue-chip CSI300 index fell 0.3 percent to 3,816.50 points, while the Shanghai Composite Index ended down 0.4 percent at 3,141.30 points. ** For the week, SSEC slid 1.6 percent, while CSI300 declined 2.2 percent, posting their worst weekly drops since late April. ** Trump on Thursday called off a historic summit with North Korean leader Kim Jong Un scheduled for next month, citing Pyongyang’s “open hostility”, and warned that the U.S. military was ready in the event of any reckless acts by North Korea. ** Adding to investor worries about a trade war, the Trump administration has launched a national security investigation into car and truck imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March. ** U.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies. ** Most sectors lost ground on Friday, but consumer and healthcare firms gained, as investors sought shelter in the two defensive sectors. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.07 percent while Japan’s Nikkei index closed up 0.06 percent. ** At 06:59 GMT, the yuan was quoted at 6.3883 per U.S. dollar, 0.18 percent weaker than the previous close of 6.377. ** The largest percentage gainers in the main Shanghai Composite index were Nanjing Inform Storage Equipment Group Co Ltd up 10.03 percent, followed by Guangdong Champion Asia Electronics Co Ltd gaining 10.01 percent and Suzhou Douson Drilling & Production Equipment Co Ltd up by 10.01 percent. ** The largest percentage losses in the Shanghai index were Chengtun Mining Group Co Ltd down 8.82 percent, followed by TVZone Media Co Ltd losing 7.33 percent and Chahua Modern Housewares Co Ltd down by 6.96 percent. ** So far this year, the Shanghai stock index is down 5 percent, the CSI300 has fallen 5.3 percent while China’s H-share index listed in Hong Kong is up 3 percent. Shanghai stocks have risen 1.94 percent this month. ** As of 07:00 GMT, China’s A-shares were trading at a premium of 20.54 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day and 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 13.55 as of the last full trading day while the dividend yield was 2.3 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by -0.92 percent to 32.64 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Sunil Nair)

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