December 7, 2018 / 4:39 AM / 6 months ago

China stocks creep higher after previous day's rout

* SSEC 0.1 pct, CSI300 0.1 pct, HSI 0.3 pct

* Drugmakers fall on price cut worries

* Yuan firms to 6.872 per dollar

SHANGHAI, Dec 7 (Reuters) - Shares in China were barely higher Friday after slumping a day earlier on the arrest of the chief financial officer of Chinese technology giant Huawei, which raised fears that a fragile temporary trade truce between the U.S. and China could shatter.

** At the midday break, the Shanghai Composite index was up 1.96 points or 0.08 percent at 2,607.14. ** China’s blue-chip CSI300 index was up 0.12 percent, with its financial sector sub-index higher by 0.33 percent, the consumer staples sector up 0.02 percent, the real estate index up 1.1 percent and the healthcare sub-index down 3.83 percent. ** Shares in China’s drugmakers extended losses, as investor worries deepen over the steep price cuts following bidding results in volume-based drug procurement negotiations. The CSI300 healthcare index is 3.8 percent lower at midday. ** President Donald Trump did not know about plans to arrest a top executive at Chinese telecoms giant Huawei in Canada, two U.S. officials said on Thursday, in an apparent attempt to stop the incident from impeding crucial trade talks with Beijing. ** Regional equity markets regained some footing on Friday after the Wall Street Journal reported that U.S. Federal Reserve officials are considering whether to signal a new wait-and-see mentality after a likely December rate hike. ** Chinese H-shares listed in Hong Kong fell 0.06 percent at 10,474.2, while the Hang Seng Index was up 0.27 percent at 26,226.79. ** The smaller Shenzhen index was up 0.12 percent and the start-up board ChiNext Composite index was weaker by 0.23 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.58 percent while Japan’s Nikkei index was up 0.51 percent. ** The yuan was quoted at 6.872 per U.S. dollar, 0.15 percent firmer than the previous close of 6.882. ** The largest percentage gainers in the main Shanghai Composite index were Fujian Raynen Technology Co Ltd, up 10 percent, followed by Eastern Communications Co Ltd, gaining 8.3 percent and Hangzhou First Applied Material Co Ltd , up by 6.79 percent. ** The largest percentage losses in the Shanghai index were FUREN Group Pharmaceutical Co Ltd, down 10 percent, followed by Zhejiang Langdi Group Co Ltd, losing 9.99 percent and Autobio Diagnostics Co Ltd, down by 8.94 percent. ** So far this year, the Shanghai stock index is down 21.23 percent, while China’s H-share index is down 10.5 percent. Shanghai stocks have risen 0.66 percent this month. ** The top gainers among H-shares were CITIC Ltd, up 3.02 percent, followed by Tencent Holdings Ltd, gaining 2.89 percent and China Vanke Co Ltd, up by 2.07 percent. ** The three biggest H-shares percentage decliners were SINOPHARM GROUP CO LTD, which has fallen 5.46 percent, CSPC Pharmaceutical Group Ltd, which has lost 5.1 percent and China Galaxy Securities Co Ltd, down by 3.1 percent. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.8 percent while the IT sector rose 1.6 percent. The top gainer on the Hang Seng was Hang Lung Properties Ltd, up 3.53 percent, while the biggest loser was Sino Biopharmaceutical Ltd, which was down 11.13 percent.

Reporting by Andrew Galbraith; Editing by Sunil Nair

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