December 18, 2017 / 4:47 AM / in 5 months

Shanghai stocks ease after c.bank raises market rates; HK up

SHANGHAI, Dec 18 (Reuters) - China’s main Shanghai stock market slipped slightly on Monday morning, amid concerns over tight year-end liquidity after the central bank lifted interbank market rates.

** The People’s Bank of China raised interest rates on reverse repurchase agreements, or reverse repos, used for open market operations by 5 basis points for the 14-day tenor on Monday, following upward adjustments on other tenors last week.

** Hong Kong’s Hang Seng Index rose, as Asian shares were generally up, with sentiment boosted by expectations U.S. lawmakers will pass a long-awaited tax bill. The Hang Seng China Enterprises Index was also up. ** At 04:07 GMT, the Shanghai Composite index was down 4.13 points or 0.13 percent at 3,262.01. ** China’s blue-chip CSI300 index was up 0.02 percent, with the consumer staples sector up 1.88 percent, the real estate index down 1.11 percent and healthcare sub-index down 0.26 percent . ** Chinese H-shares listed in Hong Kong rose 0.38 percent at 11,408.74 while the Hang Seng Index was up 0.53 percent at 29,001.85. ** The smaller Shenzhen index was down 0.52 percent and the start-up board ChiNext Composite index was weaker by 0.2 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.19 percent while Japan’s Nikkei index was up 1.39 percent. ** The yuan was quoted at 6.611 per U.S. dollar, 0.05 percent weaker than the previous close of 6.608. ** The largest percentage gainers in the main Shanghai Composite index were Hunan Tyen Machinery Co Ltd up 10.07 percent, followed by Leshan Electric Power Co Ltd gaining 10.04 percent and Tianjin Hi-Tech Development Co Ltd up by 10 percent. ** The largest percentage losses in the Shanghai index were Cangzhou Dahua Co Ltd down 10 percent, followed by Sanjiang Shopping Club Co Ltd losing 7.76 percent and Hangzhou Silan Microelectronics Co Ltd down 7.76 percent. ** So far this year, the Shanghai stock index is up 5.24 percent, while China’s H-share index is up 21.0 percent. Shanghai stocks have declined 1.54 percent this month. ** The top gainers among H-shares were Zhuzhou CRRC Times Electric Co Ltd up 2.19 percent, followed by Air China Ltd gaining 1.7 percent and China Shenhua Energy Co Ltd up by 1.67 percent. ** The three biggest H-shares percentage decliners were China Vanke Co Ltd which has fallen 2.43 percent, China Railway Group Ltd which has lost 2.1 percent and China Telecom Corp Ltd down by 1.8 percent. ** About 6.65 billion shares have traded so far on the Shanghai exchange, roughly 39.9 percent of the market’s 30-day moving average of 16.65 billion shares a day. The volume traded was 13.09 billion as of the last full trading day. ** As of 04:07 GMT, China’s A-shares were trading at a premium of 29.30 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. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.1 percent while the IT sector advanced 0.8 percent. The top gainer on Hang Seng was Hong Kong Exchanges and Clearing Ltd up 3.8 percent, while the biggest loser was Sunny Optical Technology Group Co Ltd which slumped 4.51 percent.

Reporting by Shanghai Newsroom; Editing by Shri Navaratnam

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