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Mercados

China shares track overnight Wall Street slump on recovery concerns

* SSEC -1.46%, CSI300 -1.63%, HSI -1.78%

* HSI energy sector sub-index -2.5%

* China to allow more qualified foreign investors investing in Chinese listed firms

BEIJING/SHANGHAI, Sept 24 (Reuters) - China stocks fell on Thursday, with energy and technology firms leading losses, following a slump on Wall Street overnight on renewed concerns over slowing global economic recovery due to resurgence of coronavirus cases.

** At the midday break, the Shanghai Composite index was down 1.46% at 3,231.79. ** China’s blue-chip CSI300 index was down 1.63%, with its financial sector sub-index lower by 0.96%, the consumer staples sector down 1.35%, the real estate index down 1.44% and the healthcare sub-index down 1.71%. ** Chinese H-shares listed in Hong Kong fell 1.78% to 9,388.91, while the Hang Seng Index was down 1.78% at 23,319.54, hitting the lowest level in nearly four months. All but two index constituents fell.

** The energy sector sub-index in Hong Kong shed 2.5% while the CSI Information Technology Index lost 1.9%.

** The smaller Shenzhen index was down 2.06%, the start-up board ChiNext Composite index was weaker by 2.12% and Shanghai’s tech-focused STAR50 index was down 0.87%.

** “The toing and froing pandemic overseas is delaying recovery in U.S., leading to the market slumps,” said Zhang Yanbing, an analyst with Zheshang Securities. “While the downward trend in mainland A-shares will be limited as China is achieving a better recovery.”

** Federal Reserve Vice Chair Richard Clarida said on Wednesday that the U.S. economy remains in a “deep hole” of joblessness and weak demand, and called for more fiscal stimulus, noting that policymakers “are not even going to begin thinking” about raising interest rates until inflation hits 2%.

** China’s cabinet said it will allow more qualified foreign investors to make strategic investment in Chinese listed companies, state television reported. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.04% while Japan’s Nikkei index was down 0.79%. ** The yuan was quoted at 6.8168 per U.S. dollar, 0.11% weaker than the previous close of 6.809. (Reporting by Zhang Yan in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; Editing by Rashmi Aich)

Nuestros Estándares: Los principios Thomson Reuters.

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