August 29, 2018 / 4:44 AM / 20 days ago

China shares lower as state planner warns of growth risks; Hong Kong edges up

* SSEC -0.4 pct, CSI300 -0.5 pct, HSI +0.2 pct

* Shares of state-owned banks mixed after H1 profits

* State planner warns of increased economic risks in H2

SHANGHAI, Aug 29(Reuters) - Chinese stocks fell on Wednesday as the country’s state planner warned of more risks to growth in the second half of 2018, and a deadline neared for public comment on increased U.S. tariffs on $200 billion of Chinese goods. ** China’s state planner head has warned the economy faces increased risks in the second half of this year and that greater efforts are needed for policymakers to hit economic development goals as external challenges intensify. ** At the midday break, the Shanghai Composite index was down 9.75 points or 0.35 percent at 2,768.23. ** China’s blue-chip CSI300 index was down 0.47 percent, with its financial sector sub-index lower by 0.14 percent, the consumer staples sector down 0.52 percent, the real estate index up 0.94 percent and the healthcare sub-index down 0.58 percent. ** Shares of China’s biggest state-owned lenders were mixed after posting higher profits and steady bad loan ratios in the first half of the year. An index tracking major lenders fell 0.2 percent. ** Chinese H-shares listed in Hong Kong fell 0.12 percent at 11,084.78, while the Hang Seng Index was up 0.23 percent at 28,415.63. ** The smaller Shenzhen index was down 0.68 percent and the start-up board ChiNext Composite index was weaker by 0.84 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.26 percent while Japan’s Nikkei index was up 0.45 percent, with investor optimism over at U.S.-Mexico trade deal clouded by worries over a looming deadline on tariffs with China on Sept. 5. ** The yuan was quoted at 6.8138 per U.S. dollar, 0.16 percent weaker than the previous close of 6.803. ** The largest percentage gainers in the main Shanghai Composite index were China Science Publishing & Media Ltd, up 10.05 percent, followed by 360 Security Technology Inc , gaining 10 percent and Shijiazhuang Kelin Electric Co Ltd, which also gained 10 percent. ** The largest percentage losses in the Shanghai index were Zhongman Petroleum and Natural Gas Group Corp Ltd, down 9.24 percent, followed by Shanghai Shibei Hi-Tech Co Ltd , losing 6.85 percent and Dongzhu Ecological Environment Protection Co Ltd, down by 6.44 percent. ** So far this year, the Shanghai stock index is down 16 percent, while China’s H-share index is down 5.2 percent. Shanghai stocks have declined 3.42 percent this month. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd, up 3.26 percent, followed by New China Life Insurance Co Ltd, gaining 2.65 percent and Shenzhou International Group Holdings Ltd, up by 2.29 percent. ** The three biggest H-shares percentage decliners were Postal Savings Bank of China Co Ltd, which has fallen 3.57 percent, GF Securities Co Ltd, which has lost 2.5 percent and Huaneng Power International Inc, down by 2.3 percent. ** About 5.92 billion shares have traded so far on the Shanghai exchange, roughly 44.0 percent of the market’s 30-day moving average of 13.48 billion shares a day. The volume traded was 11.87 billion as of the last full trading day. ** As of 04:19 GMT, China’s A-shares were trading at a premium of 16.86 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 11.89 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 risen by 1.78 percent to 29.58 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.4 percent while the IT sector fell 0.3 percent. The top gainer on Hang Seng was CK Infrastructure Holdings Ltd, up 2.46 percent, while the biggest loser was BOC Hong Kong Holdings Ltd, which was down 1.78 percent.

Reporting by Andrew Galbraith; Editing by Sunil Nair

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