August 3, 2018 / 4:19 AM / a year ago

China blue-chips, HK shares extend losses; Shanghai posts weak gains

* Shanghai Composite up less than 0.1 pct

* CSI300 index down 0.5 pct

* Hang Seng -0.1 pct, H-shares -0.4 pct

SHANGHAI, Aug 3 (Reuters) - China’s blue-chip share index fell on Friday morning, as lingering concerns about slowing growth, a vaccine scandal and the outlook for Sino-U.S. trade outweighed boosts from bargain hunting after two days of heavy losses. ** At the midday break, China’s blue-chip CSI300 index was down 0.49 percent, with the consumer staples sector down 0.96 percent, the real estate index down 0.95 percent and healthcare sub-index down 1.27 percent. The financial sector sub-index regained ground, rising 0.53 percent. ** The consumer staples sub-index is set for its worst week in 6 months.

** The Shanghai Composite index was up less than 0.1 percent at 2,770.14. The index fell 2 percent on Thursday and 1.8 percent on Wednesday.

** Chinese H-shares listed in Hong Kong fell 0.43 percent at 10,687.37, while the Hang Seng Index was down 0.13 percent at 27,679.56.

** The smaller Shenzhen index was down 0.44 percent and the start-up board ChiNext Composite index was weaker by 0.24 percent. ** China vowed to retaliate if the United States acted on a threat to raise tariffs on the Asian nation’s exports, fuelling fears in financial markets that the trade war between the world’s two biggest economies would escalate. ** China’s services sector expanded at the weakest pace in four months in July, as there was the least growth in new business since December 2015, a private survey showed on Friday.

** Some analysts also believe consumer firms are suffering from a “crisis of confidence” spreading from healthcare firms after a recent vaccine safety scandal sparked widespread anger and prompted investors to cut their exposure

** Around the region, MSCI’s Asia ex-Japan stock index was up by 0.02 percent while Japan’s Nikkei index was up 0.04 percent.

** The yuan was quoted at 6.8694 per U.S. dollar compared to the previous close of 6.8381. The currency had touched 6.8767 per dollar on Friday morning, its weakest level since May 25, 2017.

** The yuan is on track for eight straight weeks of losses, its longest losing streak on record ** China’s offshore yuan hit 6.8975 per dollar, its weakest level since May 15, 2017. At 0407 GMT it was changing hands at 6.8870 per dollar. ** The largest percentage gainers in the main Shanghai Composite index were Hunan Huasheng Co Ltd up 10.07 percent, followed by Taiyuan Chemical Industry Co Ltd gaining 10.05 percent and Xinjiang Sayram Modern Agriculture Co Ltd up by 10.02 percent.

** The largest percentage losses in the Shanghai index were Autobio Diagnostics Co Ltd down 9.99 percent, followed by PNC Process Systems Co Ltd losing 9.24 percent and Tianjin Songjiang Co Ltd down by 8.93 percent.

** So far this year, the Shanghai stock index is down 16.3 percent, while China’s H-share index is down 8.3 percent.

** The top gainers among H-shares were PICC Property and Casualty Co Ltd up 4.55 percent, followed by Tencent Holdings Ltd gaining 1.74 percent and China Shenhua Energy Co Ltd up by 1.03 percent. ** The three biggest H-shares percentage decliners were China Communications Construction Co Ltd which has fallen 5.92 percent, Air China Ltd which has lost 4.1 percent and China Railway Group Ltd down by 4.0 percent. ** About 7.46 billion shares have traded so far on the Shanghai exchange, roughly 54.3 percent of the market’s 30-day moving average of 13.73 billion shares a day. The volume traded was 17.42 billion as of the last full trading day.

Reporting by Andrew Galbraith; Editing by Sunil Nair

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below