April 3, 2018 / 4:25 AM / 3 months ago

China, Hong Kong stocks down amid resurgent trade war fears

* SSEC -0.9 pct, CSI300 -0.7 pct, HSI -0.6 pct

* FTSE China A50 -0.5 pct, BNY Mellon ADR China Select Index -2.2 pct

SHANGHAI, April 3 (Reuters) - China and Hong Kong stocks fell on Tuesday as trade war fears resurfaced after Beijing unveiled retaliatory trade measures against the United States. ** At 0404 GMT, the Shanghai Composite index was down 0.93 percent at 3,133.67, while China’s blue-chip CSI300 index slipped 0.71 percent to 3,859.49. ** Chinese H-shares listed in Hong Kong dropped 0.05 percent to 11,992.04, while the Hang Seng Index was down 0.6 percent at 29,913.68. ** The smaller Shenzhen index slid 1.07 percent and the start-up board ChiNext Composite index was weaker by 1.89 percent. ** China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world’s biggest economies in response to U.S. duties on imports of aluminium and steel. ** China’s agriculture-related shares firmed after Beijing hit U.S. goods with tariffs, with pork producers rallying strongly on the mainland. ** The Trump administration this week will unveil a list of advanced technology Chinese imports targeted for U.S. tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world’s two largest economies. ** Property sectors dropped on the mainland and Hong Kong, as China’s provincial capitals kept up fight against property speculator. ** Banking firms also eased as China’s banking regulator was said to inspect large client loans. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.36 percent while Japan’s Nikkei index was down 0.62 percent . ** The yuan was quoted at 6.2883 per U.S. dollar, 0.12 percent weaker than the previous close of 6.281. ** The largest percentage gainers in the main Shanghai Composite index were Wuhan Xianglong Power Industry Co Ltd, which gained 10.04 percent, followed by Wuhan Yangtze Communication Industry Group Co Ltd, which jumped 10 percent and CTS International Logistics Corp Ltd that climbed 9.11 percent. ** The largest percentage losses on the Shanghai index were Taiyuan Lionhead Cement Co Ltd, which slipped 9.99 percent, followed by Yonyou Network Technology Co Ltd , which lost 6.73 percent and Shanghai Greencourt Investment Group Co Ltd that slipped 5.56 percent. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd up 7.75 percent, followed by Hengan International Group Company Ltd gaining 6.95 percent and Anhui Conch Cement Co Ltd up by 5.61 percent. ** The three biggest H-shares percentage decliners were CNOOC Ltd which has fallen 3.81 percent, China Pacific Insurance Group Co Ltd which has lost 3.4 percent and Dongfeng Motor Group Co Ltd down by 3.3 percent. ** About 8.96 billion shares traded so far on the Shanghai exchange, roughly 54.5 percent of the market’s 30-day moving average of 16.44 billion shares a day. The volume traded was 17.77 billion as of the last full trading day. ** As of 0404 GMT, China’s A-shares were trading at a premium of 24.93 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 14.08 as of the last full trading day while the dividend yield was 2.1 percent. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.8 percent while the IT sector fell 0.8 percent. The top gainer on Hang Seng was Hengan International Group Co Ltd up 6.95 percent, while the biggest loser was CNOOC Ltd, which was down 3.81 percent.

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

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