September 20, 2018 / 7:24 AM / in a month

China stocks end lower as trade war caution persists

* SSEC -0.1 pct, CSI300 -0.1 pct Consumer staple sub-index posts small gains

* China’s A-shares are at a 19.12 percent premium over H-shares

SHANGHAI, Sept 20 (Reuters) - Shares in China gave up ground on Thursday after two days of gains, as investor sentiment remained fragile following the latest volley of tariffs in the Sino-U.S. trade war. ** At the close, the Shanghai Composite index was down 0.1 percent at 2,729.24 points. ** The blue-chip CSI300 index ended down 0.1 percent, with its financial sector sub-index closing 0.01 percent weaker, the consumer staples sector ended 0.08 percent higher, the real estate index closed down 0.43 percent and healthcare sub-index ended 0.44 percent lower. ** The smaller Shenzhen index ended down 0.22 percent and the start-up board ChiNext Composite index slipped 0.34 percent. ** Around the region, MSCI’s Asia ex-Japan stock index climbed 0.17 percent, while Japan’s Nikkei index closed 0.01 percent higher. ** Alibaba Chairman Jack Ma said the company can no longer meet its promise to create 1 million jobs in the United States due to U.S.-China trade tensions, Chinese news agency Xinhua reported on Wednesday. He also said the trade war could last for a long time. ** China plans to reduce the average tariff rate on imports from most of its trading partners as early as October, Bloomberg reported, as it seeks to limit the effect of the trade war with the United States. ** At 0714 GMT, the yuan was quoted at 6.8501 per U.S. dollar, 0.01 percent firmer than previous close of 6.8506. ** The largest percentage gainers in the main Shanghai Composite index were Ningbo Heli Mould Technology Co Ltd, which ended up 10.03 percent, followed by Guizhou Changzheng Tiancheng Holding Co Ltd, which closed 10.03 percent firmer and Ningbo Tuopu Group Co Ltd, which ended 10.03 percent higher. ** The largest percentage losses in the Shanghai index were Pengxin International Mining Co Ltd, which closed down 10 percent, followed by Sichuan Golden Summit Group Joint Stock Co Ltd, which ended 10 percent weaker and Veken Technology Co Ltd, which closed down 7.24 percent. ** So far this year, the Shanghai stock index is down 17.5 percent, the CSI300 plunged 17.9 percent, while China’s H-share index listed in Hong Kong is down 7.9 percent. Shanghai stocks rose 0.15 percent this month. ** About 11.14 billion shares were traded on the Shanghai exchange, roughly 100.9 percent of the market’s 30-day moving average of 11.04 billion shares a day. The volume in the previous trading session was 14.16 billion. ** As of 0715 GMT, China’s A-shares were trading at a premium of 19.12 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below the 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 11.52, as of last full trading day, while the dividend yield was 2.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index rose 1.84 percent to 29.12 trillion yuan. (Reporting by Andrew Galbraith, Editing by Sherry Jacob-Phillips)

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