September 7, 2018 / 7:42 AM / 15 days ago

CORRECTED-China shares edge higher in cautious trade as tariff comment deadline expires

(Corrects attribution to commerce, not foreign, ministry in fourth summary points)

* Shanghai stocks higher, blue-chip CSI300 index up

* Gains in Shanghai stocks led by Ningxia Xinri Hengli Steel Wire Rope Co

* China’s A-shares at 19.65 pct premium over H-shares

SHANGHAI, Sept 7 (Reuters) - Stocks in China ended higher on Friday, but the Shanghai Composite index and blue-chip shares closed lower for the week, as a deadline for public comments on fresh U.S. trade tariffs expired.

** At the close, the Shanghai Composite index was up 10.71 points or 0.4 percent at 2,691.59. The index is down 0.8 percent for the week. The blue-chip CSI300 index ended 0.45 percent higher, but was down 1.7 percent for the week. ** The CSI300 financial sector sub-index rose 0.8 percent and the real estate index ended up 0.94 percent. ** The Trump administration is ready to move ahead with a next round of tariffs on $200 billion worth of Chinese imports after a public comment period ended at midnight in Washington on Thursday (0400 GMT Friday), but the timing is uncertain, people familiar with the administration’s plans told Reuters. ** China has warned of retaliation if the United States introduces new tariffs, a commerce ministry spokesman said on Thursday. ** Healthcare shares rose after two days of losses, with the sub-index of the CSI300 tracking healthcare firms, rising as much as 2.7 percent in the morning session before ending the day 1.9 percent higher. ** The gains follow heavy selling of healthcare shares in recent months amid a vaccine scandal that has undermined confidence in healthcare and consumer firms. The healthcare sub-index is down more than 23 percent from late-May highs. Consumer firms ended 1 percent higher on Friday. ** Airlines took off as investors hunted for bargains after losses in recent months due to a weak yuan and rise in oil prices. Juneyao Airlines Co Ltd gained 7.6 percent, China Eastern Airlines finished 2.8 percent higher and China Southern Airlines ended up 0.8 percent. ** The smaller Shenzhen index ended 0.11 percent firmer while the start-up board, ChiNext Composite index, was higher by 0.17 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.26 percent, while Japan’s Nikkei index closed down 0.8 percent. ** At 07:14 GMT, the yuan was quoted at 6.8386 per U.S. dollar, 0.17 percent weaker than the previous close of 6.8267. ** The largest percentage gainers in the main Shanghai Composite index were Ningxia Xinri Hengli Steel Wire Rope Co Ltd , up 10.07 percent, followed by Gansu Gangtai Holding Group Co Ltd, up 10.03 percent, and Zhejiang Tiancheng Controls Co Ltd, up 10.03 percent. ** The largest percentage losers in the Shanghai index were Nanjing Central Emporium Group Stocks Co Ltd, down 9.97 percent, followed by Dawning Information Industry Co Ltd , down 8.25 percent and China National Software & Service Co Ltd, down 6.71 percent. ** So far this year, the Shanghai stock index is down 18.3 percent, the CSI300 has fallen 18.7 percent while China’s H-share index listed in Hong Kong is down 9.7 percent. Shanghai stocks have declined 0.84 percent this month. ** About 10.75 billion shares were traded on the Shanghai exchange, roughly 88.3 percent of the market’s 30-day moving average of 12.18 billion shares a day. The volume in the previous trading session was 9.90 billion. ** As of 07:16 GMT, China’s A-shares were trading at a premium of 19.65 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 11.32 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 has fallen by 1.24 percent to 28.66 trillion yuan. (Reporting by Andrew Galbraith; Editing by Vyas Mohan)

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