May 22, 2019 / 4:42 AM / 3 months ago

China stocks flat on report US could ban another tech firm; Hong Kong up

* SSEC flat, CSI300 0.1%, HSI 0.2%

* HK->Shanghai Connect daily quota used -0.9%, Shanghai->HK daily quota used 2.5%

* FTSE China A50 -0.1%

SHANGHAI, May 22 (Reuters) - China’s major stock indexes were roughly flat on Wednesday morning, as caution prevailed after a report that the United States could blacklist another Chinese tech firm.

** The CSI300 index rose 0.1%, to 3,668.58 points, at the end of the morning session, while the Shanghai Composite Index was unchanged at 2,905.40 points.

** The U.S. administration is considering limits to Chinese video surveillance firm Hikvision’s ability to buy U.S. technology, the New York Times reported on Tuesday, in a move that deepens worries about trade frictions between the world’s two top economies.

** That came after the U.S. Commerce Department blocked Huawei Technologies Co Ltd from buying U.S. goods last week.

** Shares in state-owned Hikvision plummeted as much as 10% to their lowest since Jan. 4, 2018 after the report.

** The CSI information technology index, of which Hikvision is a constituent, was flat by the lunch break.

** Beijing is ready to resume trade talks with Washington, China’s ambassador to the United States Cui Tiankai said, as a top U.S. business lobby in China said nearly half its members are seeing non-tariff barrier retaliation in China due to the trade war.

** In Hong Kong, the Hang Seng index added 0.3%, to 27,739.95 points, while the Hong Kong China Enterprises Index gained 0.1%, to 10,647.51.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.17%, while Japan’s Nikkei index was up 0.21%.

** The yuan was quoted at 6.9095 per U.S. dollar, 0.1% weaker than the previous close of 6.9028.

** The largest percentage gainers in the main Shanghai Composite index were NINGBO BIRD Co Ltd, up 10.05%, followed by Shanghai Wondertek Software Co Ltd, gaining 10.02%, and Hunan Copote Science Technology Co Ltd , up by 10.01%.

** The largest percentage losers in the Shanghai index were Elion Energy Co Ltd, down 10.01%, followed by ZHEJIANG DIBAY ELECTRIC Co Ltd, losing 9.98%, and Yuancheng Environment Co Ltd, down by 5.94%.

** So far this year, the Shanghai stock index is up 16.52%, while China’s H-share index is up 5.0%. Shanghai stocks have declined 5.6% this month.

** The top gainers among H-shares were China Tower Corp Ltd , up 2.82%, followed by Air China Ltd, gaining 2.77%, and Huatai Securities Co Ltd, up by 2.1%.

** The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which has fallen 2.59%, CRRC Corp Ltd, which has lost 1.5% and China Cinda Asset Management Co Ltd, down by 1.0%.

** As of 04:22 GMT, China’s A-shares were trading at a premium of 24.20% over the Hong Kong-listed H-shares.

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

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