July 17, 2018 / 4:21 AM / a year ago

China and Hong Kong stocks fall, energy shares lead decline

* SSEC -1.0 pct, CSI300 -1.1 pct, HSI -1.0 pct

* HK->Shanghai Connect daily quota used -0.2 pct

* Shanghai->HK daily quota used -0.2 pct

* FTSE China A50 -1.3 pct, BNY Mellon ADR China Select Index -0.7 pct

SHANGHAI, July 17 (Reuters) - China and Hong Kong stocks fell on Tuesday, led by energy firms following a sharp decline in crude oil prices. ** The CSI300 index fell 1.1 percent to 3,434.66 at the end of the morning session, while the Shanghai Composite Index lost 1.0 percent to 2,785.75. ** The Hang Seng index dropped 1.0 percent to 28,254.85, while the Hong Kong China Enterprises Index lost 1.1 percent to 10,590.05. ** Energy sector dropped 2.3 percent on the mainland, while slid 1.5 percent in Hong Kong. ** Crude prices slumped more than 4 percent on Monday, with Brent futures reaching a three-month low of $71.52 a barrel, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. ** Sentiment was also curbed by lingering worries over trade war. ** “China needs to be prepared for further escalation in Sino-U.S. trade war, as the Trump administration will continue to take tough measures to contain China,” BOCI Securities wrote in report. ** China could open its economy if it wished, European Commission President Jean-Claude Juncker said on Monday, with the European Union calling on countries to avoid a trade war even as pressure mounts on Beijing over its industrial policies. ** The International Monetary Fund (IMF) on Monday warned that escalating and sustained trade conflicts following U.S. tariff actions threatened to derail economic recovery and depress medium-term growth prospects. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.22 percent while Japan’s Nikkei index was up 0.80 percent. ** The yuan was quoted at 6.6781 per U.S. dollar, 0.21 percent firmer than the previous close of 6.6924. ** The largest percentage gainers in the main Shanghai Composite index were China Sports Industry Group Co Ltd up 10.04 percent, followed by Nanjing Chemical Fibre Co Ltd gaining 10.04 percent and Lafang China Co Ltd up by 10.01 percent. ** The largest percentage losses in the Shanghai index were Anji Foodstuff Co Ltd down 10 percent, followed by Henan Oriental Silver Star Investment Co Ltd losing 10 percent and Ningxia Xinri Hengli Steel Wire Rope Co Ltd down by 9.99 percent. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd up 2.7 percent, followed by Guangdong Investment Ltd gaining 2.66 percent and Great Wall Motor Co Ltd up by 1.15 percent. ** The three biggest H-shares percentage decliners were CSPC Pharmaceutical Group Ltd which has fallen 3.53 percent, ZhongAn Online P & C Insurance Co Ltd which has lost 3.5 percent and Byd Co Ltd down by 3 percent. ** About 5.84 billion shares were traded so far on the Shanghai exchange, roughly 44.9 percent of the market’s 30-day moving average of 13.00 billion shares. The volume traded was 10.78 billion as of the last full trading day. ** As of 04:00 GMT, China’s A-shares were trading at a premium of 19.01 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. ** The price-to-earnings ratio of the Shanghai index was 12.16 as of the last full trading day while the dividend yield was 2.7 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by -0.61 percent to 29.78 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 1.5 percent while the IT sector fell 1.4 percent. The top gainer on Hang Seng was Wharf Real Estate Investment Company Ltd up 1.35 percent, while the biggest loser was CSPC Pharmaceutical Group Ltd which was down 3.53 percent.

Reporting by Luoyan Liu and John Ruwitch; Editing by Gopakumar Warrier

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