October 29, 2019 / 5:04 AM / 19 days ago

China shares edge lower; Huawei suppliers drop

* SSEC -0.4%, CSI300 -0.1%, HSI -0.4%

* Huawei suppliers down after U.S. plan to bar them from subsidies

* Yuan firms on strong midpoint fixing

SHANGHAI, Oct 29 (Reuters) - China stocks retreated on Tuesday, after rising nearly 1% in the previous session, while shares in Hong Kong slipped as the city’s leader said she expected the financial hub to record negative growth for the year.

** At the midday break, the Shanghai Composite index was down 0.4% at 2,968.05 points. ** China’s blue-chip CSI300 index fell 0.07%, with its financial sector sub-index lower by 0.43%, the consumer staples sector up 1.49%, the real estate index down 0.55% and the healthcare sub-index up 0.84%. ** The smaller Shenzhen index was down 0.29% and the start-up board ChiNext Composite index was weaker by 0.3%. ** The United States Trade Representative is studying whether to extend tariff suspensions on $34 billion of Chinese goods set to expire on Dec. 28, the agency said on Monday. ** Shares of suppliers to China’s Huawei Technologies Co Ltd fell after news that the U.S. Federal Communications Commission plans to vote to designate Huawei and ZTE Corp as national security risks. ** WUS Printed Circuit Kunshan fell 6.48% and Shennan Circuits dropped 4.57%. But ZTE added 1.63% in Shenzhen and 3.94% in Hong Kong after posting strong third-quarter results. ** Chinese H-shares listed in Hong Kong fell 0.13% at 10,556.59, while the Hang Seng Index was down 0.4% at 26,784.58. The top gainer on the Hang Seng was WH Group Ltd , up 7.16%, while the biggest loser was Swire Pacific Ltd, down 2.07%. ** Hong Kong’s leader Carrie Lam said on Tuesday she expects the Asian financial hub to record negative economic growth for the full 2019 year, as the city grapples with five months of often violent anti-government protests. ** IT firms in Hong Kong, which had powered gains on Monday, fell 1.4%. The sub-index of the Hang Seng index tracking energy shares dipped 0.7%. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.10%, while Japan’s Nikkei index was up 0.42%. ** The yuan was quoted at 7.0594 per U.S. dollar, 0.11% firmer than the previous close of 7.0672, after China’s central bank set its official daily midpoint for the currency at its strongest level in more than two months on Tuesday. ** The largest percentage gainers in the main Shanghai Composite index were Zhejiang Hugeleaf Co Ltd, up 10.13%, followed by Ningbo Construction Co Ltd, gaining 10.13% and Veken Technology Co Ltd, up by 10.06%. ** The largest percentage losses in the Shanghai index were Dalian Dafu Enterprises Holdings Co Ltd, down 10.34%, followed by Zhejiang Shengyang Science and Technology Co Ltd, losing 10.01% and Guangzhou Baiyun International Airport Co Ltd, down by 10%. ** So far this year, the Shanghai stock index is up 19.49%, while China’s H-share index is up 4.4%. Shanghai stocks have risen 2.58% this month. ** The top gainers among H-shares were ANTA Sports Products Ltd , up 3.14%, followed by China Tower Corp Ltd, gaining 3.01% and Sinopharm Group Co Ltd, up by 2.02%. ** The three biggest H-shares percentage decliners were CITIC Securities Co Ltd, down 1.72%, Tencent Holdings Ltd , which lost 1.37% and Haitong Securities Co Ltd , lower by 1.19%. (Reporting by Andrew Galbraith; Editing by Aditya Soni )

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