SHANGHAI, Sept 4 (Reuters) - Chinese shares snapped a five-day losing streak on Tuesday, as investors hunted for bargains in beaten-down real estate and banking stocks, but the threat of U.S. tariffs on $200 billion worth of imported Chinese goods still clouded the market.
** The Shanghai Composite index closed up 29.84 points, or 1.1 percent, at 2,720.73, ending a five-day losing streak. ** The blue-chip CSI300 index ended 1.27 percent higher, with its financial sector sub-index closed 1.58 percent firmer, the consumer staples sector closed up 1.22 percent, the real estate index ended up 1.83 percent and healthcare sub-index closed 0.51 percent higher. ** The smaller Shenzhen index ended up 1.16 percent and the start-up board ChiNext Composite index closed higher 0.82 percent. ** At 0716 GMT, the yuan was quoted at 6.8299 per U.S. dollar, 0.09 percent weaker than the previous close of 6.8235. ** Chinese state-owned banks have swapped dollars for yuan in tenors ranging from a month to a year in the offshore forwards market in recent days, traders said on Tuesday, providing some support for the yuan as markets braced for a potential major escalation in the U.S.-China tariff war. ** U.S. President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends this week. ** Manufacturing activity took a hit from weak orders in August, surveys showed, a sign firms are feeling the pinch from an intensifying trade war between the United States and China that could derail global growth. ** China reported another outbreak of deadly African swine fever late on Monday, its third new case in two days, as the highly contagious disease spreads rapidly through the world’s top pork producer. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.12 percent, while Japan’s Nikkei index closed down 0.05 percent. ** The largest percentage gainers in the main Shanghai Composite index were Ningxia Xinri Hengli Steel Wire Rope Co Ltd , which ended 10.06 percent higher, followed by North Navigation Control Technology Co Ltd, which closed 10.03 percent higher and ADD Industry Zhejiang Co Ltd , which closed 10.02 percent firmer. ** The largest percentage losses in the Shanghai index were Nanjing Central Emporium Group Stocks Co Ltd, which ended down 10 percent, followed by Harbin Gong Da High-Tech Enterprise Development Co Ltd, which closed 5.03 percent down and Shanghai Fukong Interactive Entertainment Co Ltd, which ended down 4.72 percent. ** So far this year, the Shanghai stock index is down 16.8 percent, the CSI300 dropped 16.5 percent, while China’s H-share index listed in Hong Kong is down 7 percent. Shanghai stocks have risen 0.93 percent this month. ** About 10.90 billion shares were traded on the Shanghai exchange, roughly 83.7 percent of the market’s 30-day moving average of 13.02 billion shares a day. The volume in the previous trading session was 10.22 billion. ** As of 0717 GMT, China’s A-shares were trading at a premium of 18.80 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. ** The price-to-earnings ratio of the Shanghai index was 11.49, as of the last full trading day, while the dividend yield was 2.7 percent. ** So far this week, the market capitalisation of the Shanghai stock index dropped 0.17 percent to 28.97 trillion yuan.
Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips