June 21, 2018 / 4:17 AM / a year ago

China, Hong Kong stocks wobble on trade war fears

* SSEC -0.2 pct, CSI300 -0.1 pct, HSI -0.6 pct

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

* FTSE China A50 +0.1 pct

SHANGHAI, June 21 (Reuters) - China and Hong Kong shares reversed earlier gains to slide on Thursday, as concerns over a trade spat between China and the United States weighed on sentiment. ** The CSI300 index fell 0.1 percent to 3,632.75 points at the end of the morning session, while the Shanghai Composite Index lost 0.2 percent to 2,909.81 points. ** The Hang Seng index dropped 0.6 percent, to 29,508.79 points, the Hong Kong China Enterprises Index lost 0.5 percent to 11,443.10 points. ** Both mainland and Hong Kong markets found some solace after Beijing said it will use targeted cuts in banks’ reserve requirement ratios (RRR) and other policy tools to boost credit support for small firms and keep economic growth steady. ** However, sentiment was still dampened amid lingering worries over a potential full-blown trade war between China and the United States. ** China’s commerce ministry on Thursday accused the United States of being temperamental over bilateral trade issues, and warned that the interests of U.S. workers and farmers ultimately will be hurt. ** On the mainland, losses were led by tech firms, with the tech-heavy ChiNextp board index losing 1.5 percent, hovering near its lowest level since early 2015. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.16 percent while Japan’s Nikkei index was up 0.66 percent. ** The yuan was quoted at 6.4906 per U.S. dollar, 0.24 percent weaker than the previous close of 6.475. ** The largest percentage gainers in the main Shanghai Composite index were Nanjing Inform Storage Equipment Group Co Ltd up 10.02 percent, followed by Xining Special Steel Co Ltd gaining 9.98 percent and Henan Yinge Industrial Investment Co Ltd up by 9.92 percent. ** The largest percentage losses in the Shanghai index were Ningbo Bird Co Ltd down 10.11 percent, followed by Guangzhou Yuetai Group Co Ltd losing 10.04 percent and Jiangsu Xinri E-Vehicle Co Ltd down by 10.02 percent. ** The top gainers among H-shares were Anhui Conch Cement Co Ltd up 3.06 percent, followed by China Shenhua Energy Co Ltd gaining 2.69 percent and China Gas Holdings Ltd up by 2.4 percent. ** The three biggest H-shares percentage decliners were CNOOC Ltd which has fallen 3.27 percent, CITIC Securities Co Ltd which has lost 3.1 percent and New China Life Insurance Co Ltd down by 2.2 percent. ** About 8.71 billion shares have traded so far on the Shanghai exchange, roughly 65.0 percent of the market’s 30-day moving average of 13.41 billion shares a day. The volume traded was 14.43 billion as of the last full trading day. ** As of 04:02 GMT, China’s A-shares were trading at a premium of 21.27 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 12.67 as of the last full trading day while the dividend yield was 2.7 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen 3.51 percent to 30.21 trillion yuan.

Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair

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