November 7, 2019 / 5:05 AM / 13 days ago

China, HK stocks dip amid fresh uncertainty over trade deal

SHANGHAI, Nov 7 (Reuters) - China and Hong Kong stocks fell on Thursday morning, with risk appetite curbed by news that a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping to sign an interim trade deal could be delayed.

** China’s blue-chip CSI300 index fell 0.2% to 3,977.36 at the end of the morning session, while the Shanghai Composite Index lost 0.3%, to 2,969.81.

** The Hang Seng index dropped 0.3%, to 27,595.69 points, while the Hong Kong China Enterprises Index lost 0.2%, to 10,835.52.

** Asian markets have been buoyed recently by hopes that Washington and Beijing will sign a “phase one” trade deal this month to pause the debilitating tariff war.

** But a senior official of the Trump administration told Reuters on Wednesday that the planned meeting to sign the deal could be delayed until December as discussions continue over terms and venue. The official added it was still possible the agreement would not be reached, but a deal was more likely than not. ** CSI300 Index has gained over 30% so far this year, bolstered by optimism of a trade deal as well as accelerated foreign money inflows as Beijing steps up capital market reforms and opening. ** Later this month, global index publisher MSCI is scheduled to implement the final stage of a three-step move to quadruple the inclusion factor of China A-shares to 20%, from 5%. MSCI will announce the results of its index review on Nov. 7 and will make detailed information on rebalancing. ** China’s CSI300 financial sector sub-index was lower by 0.3%, the consumer staples sector up 0.18%, the real estate index up 0.18% and the healthcare sub-index up 0.43%. ** The smaller Shenzhen index was up 0.19% and the start-up board ChiNext Composite index was higher by 0.52%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.24%, while Japan’s Nikkei index was down 0.07%. ** The largest percentage gainers on the main Shanghai Composite index were Shangying Global Co Ltd, up 10.03%, followed by Shanghai Xintonglian Packaging Co Ltd, gaining 10% and Shanghai Yongguan Adhesive Products Corp Ltd , up by 9.83%. ** The largest percentage losers on the Shanghai index were Dalian Energas Gas-System Co Ltd, down 10.01%, followed by Tianjin Benefo Tejing Electric Co Ltd, losing 5.46% and Lushang Health Industry Development Co Ltd , down by 5.12%. (Reporting by Samuel Shen and John Ruwitch; editing by Uttaresh.V)

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