July 17, 2019 / 7:40 AM / 5 months ago

China shares edge down as trade, growth worries drag

* Shanghai Composite index -0.2%

* CSI300 down 0.06%

* Trump says U.S. could impose more tariffs if needed

SHANGHAI, July 17 (Reuters) - Shares in China finished lower in thin trade on Wednesday, extending the previous day’s small losses as investors continued to fret over slowing growth and the impact of the Sino-U.S. trade dispute, and await more signs of support from Beijing. ** At the close, the Shanghai Composite index was down 0.2% at 2,931.69. Trading volumes were relatively light, with about 14.96 billion shares traded on the Shanghai exchange, roughly 76.6% of the market’s 30-day moving average of 19.54 billion shares a day. ** The blue-chip CSI300 index was down 0.06%, with its financial sector sub-index lower by 0.18%, the consumer staples sector down 0.16%, the real estate index up 0.63% and the healthcare sub-index up 0.08%. ** The smaller Shenzhen index ended up 0.16% and the start-up board ChiNext Composite index was higher by 0.32%. ** Reviving concerns over trade negotiations, U.S. President Donald Trump said on Tuesday the United States still has a long way to go to conclude a trade deal with China, but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so. ** The United States did not fully comply with a World Trade Organization ruling and could face Chinese sanctions if it does not remove certain tariffs that break WTO rules, the WTO’s appeals judges said in a ruling on Tuesday. ** U.S. retail sales increased more than expected in June, reducing market expectations for an aggressive interest rate cut by the Federal Reserve at its meeting this month, though a smaller cut is still expected. China is expected to step up support for its own economy after data showed the economy grew 6.2% in the second quarter, its slowest quarterly pace on record. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.26%, while Japan’s Nikkei index closed down 0.31%. ** At 07:15 GMT, the yuan was quoted at 6.8795 per U.S. dollar, 0.05% weaker than the previous close of 6.876. ** The largest percentage gainers in the main Shanghai Composite index were Irico Display Devices Co Ltd, up 10.06%, followed by Zhengping Road & Bridge Construction Co Ltd , gaining 10.04% and Aeolus Tyre Co Ltd, up by 10%. ** The largest percentage losers in the Shanghai index were Anhui Golden Seed Winery Co Ltd down 10%, followed by Zhejiang Xinhua Chemical Co Ltd losing 9.53% and Hangzhou TianMuShan Pharmaceutical Enterprise Co Ltd down by 9.5%. ** So far this year, the Shanghai stock index is up 17.6% and the CSI300 has risen 26.4%, while China’s H-share index listed in Hong Kong is up 7%. Shanghai stocks have declined 1.58% this month. (Reporting by Andrew Galbraith; editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below