May 11, 2018 / 7:26 AM / 3 months ago

China stocks post best weekly performance in nearly 3 months

SHANGHAI, May 11 (Reuters) - China stocks fell on Friday, but posted their best weekly performance in almost three months, as interest towards Chinese blue-chips has been steadily building ahead of MSCI’s A-share inclusion next month.

** The blue-chip CSI300 index fell 0.5 percent to 3,872.84, while the Shanghai Composite Index lost 0.4 percent to 3,163.26.

** U.S. index publisher MSCI will officially include yuan-denominated A-shares into its emerging market benchmark on June 1. ** The CSI300 financial sector sub-index was lower by 0.3 percent, the consumer staples sector down 0.44 percent, the real estate index down 0.98 percent and healthcare sub-index down 2.19 percent . ** The smaller Shenzhen index ended down 1.02 percent and the start-up board ChiNext Composite index was weaker by 1.64 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.75 percent while Japan’s Nikkei index closed up 1.16 percent. ** At 07:12 GMT, the yuan was quoted at 6.3468 per U.S. dollar, 0.01 percent weaker than the previous close of 6.346. ** The top percentage gainers in the main Shanghai Composite index were Jiangsu Sunrain Solar Energy Co Ltd up 10.09 percent, followed by Chengtun Mining Group Co Ltd gaining 10.04 percent and Shanghai No.1 Pharmacy Co Ltd up by 10.01 percent. ** The big percentage losses in the Shanghai index were Aurora Optoelectronics Co Ltd down 10.03 percent, followed by Zhejiang Dibay Electric Co Ltd losing 7.41 percent and Yunnan Bowin Technology Industry Co Ltd down by 7.34 percent. ** As of 07:13 GMT, China’s A-shares were trading at a premium of 22.18 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. (Reporting by Shanghai Newsroom; Editing by Gopakumar Warrier)

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