March 29, 2018 / 4:23 AM / 2 years ago

China, Hong Kong stocks little changed as investors watch trade spat development

* SSEC +0.1 pct, CSI300 +0.0 pct, HSI -0.2 pct

* HK->Shanghai Connect daily quota used 100 pct, Shanghai->HK daily quota used 0.2 pct

* FTSE China A50 +0.2 pct, BNY Mellon ADR China Select Index -1.1 pct

SHANGHAI, March 29 (Reuters) - China and Hong Kong stocks barely moved Thursday morning, as investors kept an eye on the development of China-U.S. trade spat. ** At 04:08 GMT, the Shanghai Composite index was up 0.09 percent at 3,125.09, while China’s blue-chip CSI300 index was up 0.02 percent at 3,843.32. ** Chinese H-shares listed in Hong Kong fell 0.56 percent to 11,933.74, while the Hang Seng Index was down 0.17 percent at 29,972.19. ** The smaller Shenzhen index was unchanged for the day and the start-up board ChiNext Composite index was weaker by 0.44 percent. ** U.S. President Donald Trump’s tariffs on Chinese goods may not be imposed until early June, administration officials said on Wednesday, with public consultations and potential tariff revisions buying time for negotiations to forestall them. ** China’s commerce ministry said on Thursday the U.S. approach on trade sets a bad precedent that could trigger a domino effect and the United States must stop its wrong actions and withdraw from its unilateralism. ** China is still considering import curbs on U.S. soybeans in retaliation for moves by Washington to impose trade tariffs, U.S. Soybean Export Council Asia director Paul Burke said on Thursday, following a meeting with the Ministry of Agriculture. ** Financial shares held steady, after Chinese President Xi Jinping and other top officials approved new regulations for the country’s $15 trillion asset management sector. ** In November, China’s central bank issued draft rules on the country’s asset management sector to close loopholes that have allowed regulatory arbitrage and increased leverage. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.01 percent, while Japan’s Nikkei index was up 0.44 percent. ** The yuan was quoted at 6.293 per U.S. dollar, 0.09 percent firmer than the previous close of 6.2984. ** The largest percentage gainers in the main Shanghai Composite index were Zhejiang Haiyue Co Ltd up 10.05 percent, followed by Xining Special Steel Co Ltd gaining 8.39 percent and Tederic Machinery Co Ltd up by 7.57 percent. ** The largest percentage losers in the Shanghai index were China International Travel Service Corp Ltd down 7.01 percent, followed by Sanan Optoelectronics Co Ltd losing 6.41 percent and Wuhan DDMC Culture Co Ltd down by 6.27 percent. ** The top gainers among H-shares were China Telecom Corp Ltd up 3.56 percent, followed by Anhui Conch Cement Co Ltd gaining 3.17 percent and Shenzhou International Group Holdings Ltd up by 2.73 percent. ** The three biggest H-shares percentage decliners were Byd Co Ltd which has fallen 3.72 percent, Dongfeng Motor Group Co Ltd which has lost 3.4 percent and Great Wall Motor Co Ltd down by 2.1 percent. ** About 8.59 billion shares have traded so far on the Shanghai exchange, roughly 51.1 percent of the market’s 30-day moving average of 16.80 billion shares a day. The volume traded was 16.35 billion as of the last full trading day. ** As of 04:08 GMT, China’s A-shares were trading at a premium of 25.88 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Subhranshu Sahu

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below