December 25, 2018 / 7:54 AM / 6 months ago

China stocks fall amid global sell-off; financial shares help recover losses

SHANGHAI, Dec 25 (Reuters) - China stocks fell over 2 percent on Tuesday morning but recovered much of the losses by the close, aided by a late rebound in financial shares.

** The blue-chip CSI300 index fell 0.7 percent, to 3,017.28, while the Shanghai Composite Index lost 0.9 percent to 2,504.82 points. ** China stocks fell amid a global sell-off that was triggered by worries about the global economy and Donald’s Trump’s response to U.S. market weakness.

** The Trump administration moved to bolster confidence and the U.S. president called the Federal Reserve the “only problem our economy has”. ** The CSI300 financial sector sub-index was lower by 0.66 percent, the consumer staples sector down 0.02 percent, the real estate index down 0.14 percent and the healthcare sub-index up 0.18 percent. ** The smaller Shenzhen index ended down 0.81 percent and the start-up board ChiNext Composite index was weaker by 0.848 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.16 percent, while Japan’s Nikkei index closed down 5.01 percent. ** At 07:29 GMT, the yuan was quoted at 6.8856 per U.S. dollar, 0.19 percent firmer than the previous close of 6.8984. ** The largest percentage gainers in the main Shanghai Composite index were Nanjing Textiles Import & Export Corp Ltd , up 10.03 percent, followed by GuangDong Super Telecom Co Ltd, gaining 10.02 percent and Suzhou Secote Precision Electronic Co Ltd, up by 10.02 percent. ** The largest percentage losses in the Shanghai index were Changzhou Tenglong Auto Parts Co Ltd down 10.02 percent, followed by Changyuan Group Ltd losing 9.95 percent and Gem-Year Industrial Co Ltd down by 8.79 percent. (Reporting by Shanghai Newsroom; Editing by Christian Schmollinger)

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