April 12, 2018 / 4:20 AM / 2 years ago

China, Hong Kong stocks slide amid rising Middle East tensions

* SSEC -0.6 pct, CSI300 -0.7 pct, HSI -0.2 pct

* HK->Shanghai Connect daily quota used 6.9 pct, Shanghai->HK daily quota used -5.6 pct

* FTSE China A50 -1.0 pct, BNY Mellon ADR China Select Index -0.5 pct

SHANGHAI, April 12 (Reuters) - China and Hong Kong stocks dropped on Thursday, as investors were concerned about the rising tensions in the Middle East following the threat of imminent U.S. military action in Syria. ** At 0401 GMT, the Shanghai Composite index was down 0.6 percent at 3,188.97, while China’s blue-chip CSI300 index slipped 0.67 percent to 3,911.93. ** Chinese H-shares listed in Hong Kong fell 0.47 percent to 12,267.33, while the Hang Seng Index slid 0.23 percent to 30,827.85. ** The smaller Shenzhen index slipped 0.25 percent and the start-up board ChiNext Composite index edged higher by 0.07 percent. ** U.S. president Donald Trump declared that missiles “will be coming” in Syria, taunting Russia for supporting Syrian President Bashar al-Assad after a suspected chemical attack on rebels. ** His comments raised the prospect of direct conflict over Syria for the first time between the two world powers backing opposing sides in the seven-year-old civil war, which has also escalated a rivalry between Saudi Arabia and Iran. ** Gold shares rallied as investors sought shelter, with Shandong Humon Smelting surging as much as 9.4 percent following a 10 percent rise on Wednesday. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.41 percent, while Japan’s Nikkei index slipped 0.24 percent. ** The yuan was quoted at 6.2768 per U.S. dollar, 0.17 percent weaker than the previous close of 6.2662. ** The largest percentage gainers in the main Shanghai Composite index were Datang Telecom Technology Co Ltd, which gained 10.05 percent, followed by Sunny Loan Top Co Ltd , which climbed 10.04 percent and Xinjiang Youhao Group Co Ltd that rose 10.04 percent. ** The largest percentage losses in the Shanghai index were Zhengzhou Coal Industry & Electric Power Co Ltd, which fell 7.59 percent, followed by Henan Dayou Energy Co Ltd , which lost 5.45 percent and Rightway Holdings Co Ltd that slipped 5.04 percent. ** The top gainers among H-shares were CNOOC Ltd, which rose 3.33 percent, followed by PetroChina Co Ltd , which gained 3.25 percent and China Petroleum & Chemical Corp that climbed 1.89 percent. ** The three biggest H-shares percentage decliners were New China Life Insurance Co Ltd, which fell 2.72 percent, Air China Ltd, which lost 2.4 percent and Anhui Conch Cement Co Ltd that slipped 2.3 percent. ** About 8.28 billion shares have traded so far on the Shanghai exchange, roughly 49.8 percent of the market’s 30-day moving average of 16.63 billion shares a day. The volume traded was 17.59 billion as of the last full trading day. ** As of 0401 GMT, China’s A-shares were trading at a premium of 24.66 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 14.21 as of the last full trading day, while the dividend yield was 2.1 percent.

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below