February 1, 2018 / 4:27 AM / 10 months ago

Consumer, healthcare firms drag down China stocks; Hong Kong also retreats

* SSEC -1.1 pct, CSI300 -1.1 pct, HSI -0.4 pct

* HK->Shanghai Connect daily quota used 1.6 pct, Shanghai->HK daily quota used 13.3 pct

* FTSE China A50 -0.4 pct, BNY Mellon ADR China Select Index +0.6 pct

SHANGHAI, Feb 1 (Reuters) - China’s major share indexes fell more than 1 percent on Thursday, weighed down by consumer and healthcare companies as investors dumped firms expecting soft earnings in 2017.

The market was little fazed by a private manufacturing survey which suggested some resilience in the world’s second-largest economy at the start of 2018. ** Growth in China’s manufacturing sector remained solid in January and held up better than analysts had expected, the business survey showed, as new business led factories to raise output at the start of the year.

** At 04:04 GMT, the Shanghai Composite index was down 38.63 points or 1.11 percent at 3,442.21. ** China’s blue-chip CSI300 index was down 1.1 percent, with its financial sector sub-index lower by 0.26 percent, the consumer staples sector down 1.44 percent, the real estate index down 0.95 percent and healthcare sub-index down 1.94 percent. ** Chinese H-shares listed in Hong Kong fell 0.21 percent at 13,533.16, while the Hang Seng Index was down 0.44 percent at 32,743.79. ** The smaller Shenzhen index was down 2.42 percent and the start-up board ChiNext Composite index was weaker by 1.3 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.07 percent while Japan’s Nikkei index was up 1.23 percent. ** The yuan was quoted at 6.293 per U.S. dollar, 0.1 percent weaker than the previous close of 6.2865. ** The largest percentage gainers in the main Shanghai Composite index were Hebei Baoshuo Co Ltd up 9.87 percent, followed by Xinyu Iron & Steel Co Ltd gaining 5.03 percent and ChengDu QianFeng Electronics Co up by 5 percent. ** The largest percentage losses in the Shanghai index were Kingswood Enterprise Co Ltd down 10.11 percent, followed by Beijing North Star Co Ltd losing 10.06 percent and Lotus Health Group Co down by 10.04 percent. ** So far this year, the Shanghai stock index is up 5.25 percent, while China’s H-share index is up 15.8 percent. ** The top gainers among H-shares were China Vanke Co Ltd up 4.05 percent, followed by Industrial and Commercial Bank of China Ltd gaining 2.16 percent and Air China Ltd up by 1.92 percent. ** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd which has fallen 4.18 percent, Great Wall Motor Co Ltd which has lost 2.4 percent and New China Life Insurance Co Ltd down by 2.2 percent. ** About 14.33 billion shares have traded so far on the Shanghai exchange, roughly 72.0 percent of the market’s 30-day moving average of 19.90 billion shares a day. The volume traded was 20.73 billion as of the last full trading day. ** As of 04:04 GMT, China’s A-shares were trading at a premium of 28.53 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 15.89 as of the last full trading day while the dividend yield was 1.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen 2.01 percent to 30.69 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.5 percent while the IT sector fell 0.3 percent. The top gainer on Hang Seng was China Resources Land Ltd up 5.29 percent, while the biggest loser was Want Want China Holdings Ltd which was down 3.62 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Kim Coghill

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