July 26, 2018 / 4:24 AM / a month ago

China, Hong Kong stocks fall as trade fears resurface

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

* HK->Shanghai Connect daily quota used 1.2 pct

* Shanghai->HK daily quota used 0 pct

* FTSE China A50 -0.8 pct, BNY Mellon ADR China Select Index +2.4 pct

SHANGHAI, July 26 (Reuters) - China and Hong Kong stocks fell on Thursday, as trade war fears resurfaced. ** The CSI300 index fell 0.9 percent to 3,546.66 at the end of the morning session, while the Shanghai Composite Index lost 0.6 percent to 2,885.29. ** The Hang Seng index dropped 0.7 percent to 28,707.91, while the Hong Kong China Enterprises Index lost 0.7 percent to 10,991.91. ** China’s state planner vowed on Wednesday to prevent extensive job losses across the economy and keep unemployment below existing thresholds as trade friction with the United States created uncertainty in the labour market. ** “The escalating Sino-U.S. trade frictions have brought uncertainties to our country’s economic development and especially to employment stability,” Ha Zengyou, a senior official from the state planner, told reporters. ** U.S. President Donald Trump accused China on Wednesday of targeting American farmers in a “vicious” way and using them as leverage to get concessions on trade a day after the administration announced a $12 billion farm aid package.

** The prospect of weaker growth has prompted a loosening of fiscal policy in China as authorities seek to head off a slowdown. Most recently, China’s central bank gave notice to some domestic banks that it would ease a capital requirement to support lending. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.10 percent while Japan’s Nikkei index was down 0.15 percent. ** The yuan was quoted at 6.769 per U.S. dollar, 0.08 percent weaker than the previous close of 6.7638. ** The largest percentage gainers in the main Shanghai Composite index were Lotus Health Group Co up 10.24 percent, followed by Tianjin Songjiang Co Ltd gaining 10.18 percent and Tianjin Quanyechang Group Co Ltd up by 10.09 percent. ** The largest percentage losses in the Shanghai index were Jiangsu New Energy Development Co Ltd down 9.48 percent, followed by Red Avenue New Materials Group Co Ltd losing 9.47 percent and Dynagreen Environmental Protection Group Co Ltd down by 8.82 percent. ** The top gainers among H-shares were Huaneng Power International Inc up 2.56 percent, followed by Guangdong Investment Ltd gaining 1.65 percent and SINOPHARM GROUP CO LTD up by 1.38 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd which has fallen 3.42 percent, China Merchants Bank Co Ltd which has lost 2.1 percent and China Railway Group Ltd down by 1.9 percent. ** About 9.75 billion shares were traded so far on the Shanghai exchange, roughly 71.0 percent of the market’s 30-day moving average of 13.73 billion shares a day. The volume traded was 16.78 billion as of the last full trading day. ** As of 04:06 GMT, China’s A-shares were trading at a premium of 18.37 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 12.63 as of the last full trading day while the dividend yield was 2.6 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 2.69 percent to 30.77 trillion yuan.

Reporting by Luoyan Liu and John Ruwitch; Editing by Gopakumar Warrier

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