May 16, 2018 / 4:52 AM / 10 months ago

China, HK stocks fall on jitters over N.Korea, trade, rising bond yields

* SSEC -0.3 pct, CSI300 -0.3 pct, HSI -0.1 pct

* HK->Shanghai Connect daily quota used 0.6 pct, Shanghai->HK daily quota used 1.3 pct

* Pyongyang abruptly called off talks with Seoul

SHANGHAI, May 16 (Reuters) - China and Hong Kong stocks edged lower on Wednesday, as renewed worries over North Korea and surging U.S. bond yields dampened sentiment in Asian markets. Investors were awaiting news from a second round of U.S.-China trade talks in Washington this week.

** The CSI300 index dropped 0.3 percent to 3,912.39 points at the end of morning session, while the Shanghai Composite Index lost 0.3 percent to 3,183.28 points. ** The Hang Seng index slipped 0.1 percent to 31,116.35 points, while the Hong Kong China Enterprises Index lost 0.1 percent to 12,432.23. ** Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt. The cancellation could see tension on the Korean peninsula flare again even as investors worry about China-U.S. trade tensions and the sustainability of global economic growth.

** Meanwhile, strong U.S. retail sales and factory data on Tuesday pushed the U.S. 10-year yield through a key level to hit 3.095 percent, its highest since July 2011, raising worries about higher borrowing costs for companies worldwide. ** China’s smaller Shenzhen index was unchanged for the day and the start-up board ChiNext Composite index was weaker by 0.18 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.07 percent, while Japan’s Nikkei index slipped 0.21 percent. ** The yuan was quoted at 6.3683 per U.S. dollar, 0.07 percent firmer than the previous close of 6.3725. ** The largest percentage gainers in the main Shanghai Composite index were Hunan Salt Industry Co Ltd, which climbed 10.01 percent, followed by Shandong Buchang Pharmaceuticals Co Ltd, which gained 10 percent and Jiangsu Rutong Petro-Machinery Co Ltd that rose 9.99 percent. ** The largest percentage losses in the Shanghai index were Shanghai Diesel Engine Co Ltd down 10.01 percent, followed by Zhejiang Tiancheng Controls Co Ltd losing 9.49 percent and Bethel Automotive Safety Systems Co Ltd down by 8.17 percent. ** The top gainers among H-shares were Anhui Conch Cement Co Ltd up 2.57 percent, followed by China Gas Holdings Ltd gaining 2.02 percent and Dongfeng Motor Group Co Ltd up by 1.92 percent. ** The three biggest H-shares percentage decliners were PICC Property and Casualty Co Ltd which has fallen 1.80 percent, Byd Co Ltd which has lost 1.7 percent and China Shenhua Energy Co Ltd down by 1.4 percent. ** About 7.06 billion shares have traded so far on the Shanghai exchange, roughly 48.8 percent of the market’s 30-day moving average of 14.48 billion shares a day. The volume traded was 12.45 billion, as of the last full trading day. ** As of 0433 GMT, China’s A-shares were trading at a premium of 20.37 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 13.73 as of the last full trading day, while the dividend yield was 2.2 percent.

Reporting by Samuel Shen and John Ruwitch, Editing by Sherry Jacob-Phillips

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