December 1, 2017 / 4:21 AM / 17 days ago

China stocks fall after soft factory growth; HK little changed

SHANGHAI, Dec 1 (Reuters) - China stocks fell on Friday morning, after a private survey showed the country’s manufacturing activity grew at the weakest pace in five months in November as input costs remained high and tougher pollution measures weighed on business confidence.

“For the most part, the manufacturing sector remained stable in November, although some signs of weakness emerged. In the fourth quarter, the economy is likely to maintain the stability observed since the start of the second half of the year,” Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group, said in a note accompanying the Caixin release. ** At 04:03 GMT, the Shanghai Composite index was down 11.63 points or 0.35 percent at 3,305.56 points. ** China’s blue-chip CSI300 index was down 0.36 percent, with its financial sector sub-index lower by 0.89 percent, the consumer staples sector down 0.02 percent, the real estate index down 0.16 percent and healthcare sub-index up 0.7 percent. ** Chinese H-shares listed in Hong Kong rose 0.17 percent at 11,495.26 while the Hang Seng Index was down 0.13 percent at 29,138.74. ** The smaller Shenzhen index was up 0.57 percent and the start-up board ChiNext Composite index was higher by 1.71 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.07 percent while Japan’s Nikkei index was up 0.09 percent. ** The yuan was quoted at 6.615 per U.S. dollar, 0.09 percent weaker than the previous close of 6.609.

** The largest percentage gainers in the main Shanghai Composite index were Jiangsu Hengli Hydraulic Co Ltd up 9.99 percent, followed by Hangzhou Silan Microelectronics Co Ltd gaining 9.97 percent and Gansu Ronghua Industry Group Co Ltd up by 9.96 percent. ** The largest percentage losses in the Shanghai index were Wangfujing Group Co Ltd down 4.97 percent, followed by Guizhou Changzheng Tiancheng Holding Co Ltd losing 4.95 percent and Shandong Tyan Home Co Ltd down by 4.64 percent. ** So far this year, the Shanghai stock index is up 6.88 percent, while China’s H-share index is up 22.1 percent. Shanghai stocks have declined 2.24 percent this month. ** The top gainers among H-shares were SINOPHARM GROUP CO LTD up 2.77 percent, followed by China Vanke Co Ltd gaining 2.64 percent and GF Securities Co Ltd up by 1.53 percent. ** The three biggest H-shares percentage decliners were Anhui Conch Cement Co Ltd which has fallen 2.13 percent, China Railway Construction Corp Ltd which has lost 1.0 percent and China Petroleum & Chemical Corp down by 0.9 percent. ** About 7.70 billion shares have traded so far on the Shanghai exchange, roughly 44.3 percent of the market’s 30-day moving average of 17.40 billion shares a day. The volume traded was 15.66 billion as of the last full trading day. ** As of 04:03 GMT, China’s A-shares were trading at a premium of 29.96 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 14.82 as of the last full trading day while the dividend yield was 2 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by -1.14 percent to 28.79 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.1 percent while the IT sector fell 1.8 percent. The top gainer on Hang Seng was Galaxy Entertainment Group Ltd up 2.67 percent, while the biggest loser was WH Group Ltd which was down 2.17 percent.

Reporting by Samuel Shen and John Ruwitch; Editing by Simon Cameron-Moore

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