for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

Consumer firms drag China shares lower; Alibaba, Tencent boost Hong Kong

* SSEC -0.29%, CSI300 -1.08%, HSI up 0.49%

* Consumer firms lead losses as investors book profits

* Alibaba, Tencent lift Hang Seng after Trump said to scrap blacklist plans

SHANGHAI, Jan 14 (Reuters) - China shares fell on Thursday, dragged lower by consumer firms as investors continued to take profits after the country’s blue-chip index touched a 13-year closing high earlier this week.

** At the midday break, the Shanghai Composite index was down 0.29% at 3,588.28. ** China’s blue-chip CSI300 index eased 1.08%, with the consumer staples sector slipping 1.85%, followed by healthcare and its financial sectors down 0.89% and 0.78%, respectively. ** The drop in consumer firms was led by distiller Wuliangye Yibin Co Ltd, which fell 3.89%. Wuliangye’s shares touched a record high last week after surging more than 119% in 2020. ** Investor sentiment has also been shaken this week as rising cases of COVID-19 prompted lockdowns of three cities in Hebei province, which surrounds Beijing. ** China’s national health authority reported 138 new COVID-19 cases in the mainland on Wednesday, up from 115 cases a day earlier. ** But stronger import growth figures for December underscored China’s robust domestic recovery, while exports grew more than expected as global coronavirus disruptions fuelled demand for Chinese goods. ** Chinese H-shares in Hong Kong rose 0.71% to 11,264.8, while the Hang Seng Index was up 0.49% at 28,375.25. ** Hong Kong-listed shares of Alibaba and Tencent jumped 4.47% and 4.36%, respectively, after reports that the Trump administration has scrapped plans to blacklist the Chinese tech giants, together with Baidu. ** Oil giant CNOOC Ltd shares jumped 5.19% after S&P Dow Jones Indices said it would remove the company’s securities from some indexes due to U.S. sanctions. ** The smaller Shenzhen index was down 0.49%, the start-up board ChiNext Composite index was weaker by 0.37% and Shanghai’s tech-focused STAR50 index was up 4.28%. ** The yuan was quoted at 6.4715 per U.S. dollar, 0.05% weaker than the previous close of 6.4681. (Reporting by Andrew Galbraith; Editing by Rashmi Aich)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up