May 25, 2018 / 4:21 AM / 3 months ago

China, HK stocks slip on nixed U.S.-North Korea summit

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

* HK->Shanghai Connect daily quota used 2.4 pct, Shanghai->HK daily quota used -1.7 pct

* FTSE China A50 +0.3 pct, BNY Mellon ADR China Select Index -0.7 pct

SHANGHAI, May 25 (Reuters) - China and Hong Kong stocks edged lower on Friday, as sentiment soured after U.S. President Donald Trump called off a planned June meeting with North Korean leader Kim Jong Un.

** The CSI300 index rose 0.1 percent to 3,831.67 points at the end of the morning session, while the Shanghai Composite Index slipped 0.1 percent to 3,152.35 points. ** The Hang Seng index dropped 0.3 percent to 30,681.12 points, while the Hong Kong China Enterprises Index lost 0.5 percent to 12,088.28 points. ** Trump on Thursday called off a historic summit with North Korean leader Kim Jong Un scheduled for next month, citing Pyongyang’s “open hostility”, and warned that the U.S. military was ready in the event of any reckless acts by North Korea. ** North Korea’s vice foreign minister Kim Kye Gwan said on Friday Pyonyang is open to resolving issues with the United States. ** Trump’s threat to impose tariffs on auto imports also fuelled worries about trade war. ** U.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies.

** On the mainland, most sectors lost ground, but consumer and healthcare firms gained, as investors sought shelter in the two defensive sectors. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.19 percent, while Japan’s Nikkei index climbed 0.24 percent. ** The yuan was quoted at 6.3871 per U.S. dollar, 0.16 percent weaker than the previous close of 6.377. ** The largest percentage gainers in the main Shanghai Composite index were Nanjing Inform Storage Equipment Group Co Ltd up 10.03 percent, followed by Guangdong Champion Asia Electronics Co Ltd gaining 10.01 percent and Suzhou Douson Drilling & Production Equipment Co Ltd up by 10.01 percent. ** The largest percentage losses in the Shanghai index were Datang Telecom Technology Co Ltd down 5.01 percent, followed by Shandong Tyan Home Co Ltd losing 5.01 percent and ENN Ecological Holdings Co Ltd down by 4.8 percent. ** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd up 2.55 percent, followed by ZhongAn Online P & C Insurance Co Ltd gaining 1.78 percent and Anhui Conch Cement Co Ltd up by 1.37 percent. ** The three biggest H-shares percentage decliners were CNOOC Ltd which has fallen 2.79 percent, PetroChina Co Ltd which has lost 2.6 percent and China Vanke Co Ltd down by 1.5 percent. ** About 7.07 billion shares have traded so far on the Shanghai exchange, roughly 50.5 percent of the market’s 30-day moving average of 14.02 billion shares a day. The volume traded was 12.41 billion as of the last full trading day. ** As of 0400 GMT, China’s A-shares were trading at a premium of 20.36 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 13.55 as of the last full trading day, while the dividend yield was 2.3 percent.

Reporting by Luoyan Liu and John Ruwitch, Editing by Sherry Jacob-Phillips

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