September 11, 2018 / 4:42 AM / 10 months ago

China stocks rise on pause in trade war escalation; Hong Kong flat

* SSEC +0.3 pct, CSI300 +0.4 pct, HSI flat

* Hang Seng China Enterprises index -0.3 pct

* Some Apple suppliers continue to feel heat from Trump tweet

SHANGHAI, Sept 11 (Reuters) - China stocks edged higher on Tuesday morning as investors took a break from trade war worries to buy up shares battered by recent heavy selling, but some suppliers to Apple extended Monday’s sharp losses after a weekend tweet from the U.S. president. ** At the midday break, the Shanghai Composite index was up 8.05 points or 0.3 percent at 2,677.54. ** China’s blue-chip CSI300 index was up 0.36 percent, with its financial sector sub-index higher by 0.12 percent, the consumer staples sector up 1.07 percent, the real estate index down 0.69 percent and the healthcare sub-index up 1.04 percent. ** Chinese H-shares listed in Hong Kong were 0.33 percent lower at 10,399.55 at midday, while the Hang Seng Index was flat at 26,606.92. ** Some suppliers of Apple Inc extended losses after U.S. President Donald Trump tweeted that the tech giant should make products in the United States if it wanted to avoid tariffs on Chinese imports. ** Among Apple suppliers, Shenzhen Sunway Communication Co Ltd fell 1.6 percent and Suzhou Dongshan Precision Manufacturing Co Ltd lost 3.9 percent, but Luxshare Precision Co Ltd bounced 1.5 percent after a 10-percent plunge Monday. In Hong Kong, Sunny Optical Technology Group Co Ltd fell 1.3 percent. ** The smaller Shenzhen index was up 0.6 percent and the start-up board ChiNext Composite index was higher by 0.9 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.06 percent while Japan’s Nikkei index was up 1.24 percent. ** The yuan was quoted at 6.8646 per U.S. dollar, 0.13 percent weaker than the previous close of 6.8557. ** The largest percentage gainers in the main Shanghai Composite index were Hefei Metalforming Intelligent Manufacturing Co Ltd , up 10.11 percent, followed by ZhongTongGuoMai Communication Co Ltd, gaining 10 percent and Hangzhou Freely Communication Co Ltd, up by 9.98 percent. ** The largest percentage losses in the Shanghai index were Nanjing Central Emporium Group Stocks Co Ltd, down 10.08 percent, followed by Kailuan Energy Chemical Co Ltd , losing 9.92 percent and Shandong Hualu Hengsheng Chemical Co Ltd, down by 8.59 percent. ** So far this year, the Shanghai stock index is down 19.28 percent, while China’s H-share index is down 10.9 percent. Shanghai stocks have declined 2.05 percent this month. ** The top gainers among H-shares were Haitong Securities Co Ltd , up 1.95 percent, followed by CNOOC Ltd, gaining 1.9 percent and PICC Property and Casualty Co Ltd , up by 1.3 percent. ** The three biggest H-shares percentage decliners were Guangdong Investment Ltd, down 2.91 percent, Anhui Conch Cement Co Ltd, which has lost 2.8 percent and Guangzhou Automobile Group Co Ltd, which is 2.5 percent lower. ** About 6.14 billion shares have traded so far on the Shanghai exchange, roughly 51.6 percent of the market’s 30-day moving average of 11.89 billion shares a day. The volume traded was 10.36 billion as of the last full trading day. ** At the midday break, China’s A-shares were trading at a premium of 20.85 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 11.25 as of the last full trading day, while the dividend yield was 2.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by 1.19 percent to 28.43 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares rose 0.5 percent while the IT sector fell 0.8 percent. The top gainer on Hang Seng was CNOOC Ltd, up 1.9 percent, while the biggest loser was Galaxy Entertainment Group Ltd, down 5.10 percent.

Reporting by Andrew Galbraith; Editing by Sunil Nair

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