June 6, 2018 / 7:23 AM / 5 months ago

Shanghai shares end flat; transport offset by losses in real estate

* Shanghai stocks flat, blue-chip CSI300 index down

* Gains in Shanghai stocks led by Hangzhou Advance Gearbox Group Co Ltd and losses by Shandong Jintai Group Co Ltd

* China’s A-shares are at 18.02 percent premium over H-shares

SHANGHAI, June 6 (Reuters) - Shanghai stocks ended flat on Wednesday, as gains in transport and material firms were offset by losses in banking and real estate shares. ** The blue-chip CSI300 index ended 0.2 percent lower at 3,837.35 points, while the Shanghai Composite Index closed flat at 3,115.18 points. ** Sector performances were mixed for the day. Real estate sector pulled down the index with a 1.1 percent drop, as cities stepped up efforts to curb speculation in the property sector. ** China’s growth-starved city of Tianjin said on Tuesday it will increase scrutiny of home buyers and their eligibility, hitting back at criticism that it was skirting curbs in place to fend off property speculators. ** The Chinese southern boomtown of Shenzhen, famed for its eye-watering home prices, has set an unprecedented goal of capping the number of new private homes, as the government focuses on rolling out more affordable public housing. ** China Southern Airlines closed up 5.1 percent, leading the rise in transport sector. ** Telecoms firms were little changed after news that ZTE Corp has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers, allowing the Chinese firm to get back into business. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.67 percent, while Japan’s Nikkei index closed up 0.38 percent. ** At 0702 GMT, the yuan was quoted at 6.3894 per U.S. dollar, 0.18 percent firmer than the previous close of 6.4008. ** The largest percentage gainers in the main Shanghai Composite index were Hangzhou Advance Gearbox Group Co Ltd up 10.04 percent, followed by Wuxi New Hongtai Electrical Technology Co Ltd, which ended 10.03 percent higher and Shanghai Shine-Link International Logistics Co Ltd , which closed up 10.02 percent. ** The largest percentage losses in the Shanghai index were Shandong Jintai Group Co Ltd, which ended down 8.03 percent, followed by Tongwei Co Ltd, which closed 6.01 percent lower and Shangying Global Co Ltd down by 5.75 percent. ** So far this year, the Shanghai stock index is down 5.8 percent, the CSI300 has fallen 4.8 percent, while China’s H-share index listed in Hong Kong is up 5.1 percent. Shanghai stocks have risen 0.65 percent this month. ** About 12.02 billion shares were traded on the Shanghai exchange, roughly 89.5 percent of the market’s 30-day moving average of 13.43 billion shares a day. The volume in the previous trading session was 11.87 billion. ** As of 0703 GMT, China’s A-shares were trading at a premium of 18.02 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 13.36 as of the last full trading day while the dividend yield was 2.4 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.26 percent to 32.23 trillion yuan. (Reporting by Shanghai Newsroom, Editing by Sherry Jacob-Phillips)

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