March 13, 2018 / 4:48 AM / in 7 months

RPT-China, Hong Kong stocks little changed, investors ponder government revamp

(Repeats to fix formatting with no changes to text)

* SSEC -0.2 pct, CSI300 -0.4 pct, HSI -0.3 pct

* HK->Shanghai Connect daily quota used 8.6 pct, Shanghai->HK daily quota used 4.2 pct

* FTSE China A50 -0.3 pct, BNY Mellon ADR China Select Index +0.0 pct

SHANGHAI, March 13 (Reuters) - China and Hong Kong stocks were little changed Tuesday morning, as investors pondered the impact from China’s government reshuffle.

** At 04:08 GMT, the Shanghai Composite index was down 7.58 points, or 0.23 percent, at 3,319.12, while the blue-chip CSI300 index was down 0.35 percent at 4,113.04.

** Chinese H-shares listed in Hong Kong rose 0.24 percent to 12,727.5, while the Hang Seng Index was down 0.27 percent at 31,507.76.

** The smaller Shenzhen index was down 0.18 percent and the start-up board ChiNext Composite index was unchanged.

** China said it will merge its banking and insurance regulators and create a new agricultural and rural village ministry, a parliament document released on Tuesday showed, among a number of proposed changes in the biggest ministry shake-up in years.

** China will also form a powerful new competition regulator in a bid to ramp up oversight of mergers and acquisitions and price-fixing.

** China is restructuring the responsibilities, roles and powers of its state institutions to make them more efficient. President Xi Jinping’s top economic adviser, Liu He, said that such reform would be profound.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.04 percent, while Japan’s Nikkei index was up 0.11 percent.

** The yuan was quoted at 6.326 per U.S. dollar, 0.03 percent firmer than the previous close of 6.328.

** The largest percentage gainers in the main Shanghai Composite index were Dr.Peng Telecom & Media Group Co Ltd up 10.02 percent, followed by Guizhou Guihang Automotive Components Co Ltd gaining 9.98 percent and SDIC Zhonglu Fruit Juice Co Ltd up by 9.98 percent.

** The largest percentage losses in the Shanghai index were Shanghai Fukong Interactive Entertainment Co Ltd down 10.01 percent, followed by Changshu Fengfan Power Equipment Co Ltd losing 9.95 percent and Pci-Suntek Technology Co Ltd down by 6.64 percent.

** So far this year, the Shanghai stock index is up 0.59 percent, while China’s H-share index is up 8.4 percent. Shanghai stocks have risen 2.06 percent this month.

** The top gainers among H-shares were Agricultural Bank of China Ltd up 5.15 percent, followed by Bank of China Ltd gaining 2.06 percent and Shenzhou International Group Holdings Ltd up by 1.47 percent.

** The three biggest H-shares percentage decliners were CNOOC Ltd which has fallen 2.94 percent, China Telecom Corp Ltd which has lost 2.6 percent and Air China Ltd down by 2.2 percent.

** About 10.13 billion shares have traded so far on the Shanghai exchange, roughly 52.2 percent of the market’s 30-day moving average of 19.40 billion shares a day. The volume traded was 20.65 billion as of the last full trading day.

** As of 04:08 GMT, China’s A-shares were trading at a premium of 25.03 percent over the Hong Kong-listed H-shares.

** The Shanghai stock index is below its 50-day moving average and above its 200-day moving average.

** The price-to-earnings ratio of the Shanghai index was 15.1 as of the last full trading day while the dividend yield was 1.9 percent.

** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.51 percent to 29.66 trillion yuan.

** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 1.4 percent while the IT sector fell 0.7 percent. The top gainer on Hang Seng was Bank of China Ltd up 2.06 percent, while the biggest loser was CNOOC Ltd which was down 2.94 percent.

Reporting by Samuel Shen and John Ruwitch

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