October 17, 2018 / 4:08 AM / a month ago

China stocks little changed; healthcare firms offset infrastructure gains

* SSEC 0.1 pct, CSI300 0.0 pct, HSI 0.1 pct

* Stock connect program closed for holiday in Hong Kong

* FTSE China A50 +0.3 pct, BNY Mellon ADR China Select +1.6 pct

SHANGHAI, Oct 17 (Reuters) - China stocks were little changed on Wednesday, with gains in infrastructure and utilities firms offset by losses in consumer and healthcare companies. ** The CSI300 index was unchanged at 3,101.53 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent to 2,548.88 points. ** Healthcare firms extend losses as investors fret over potential fallout from a vaccine scandal at Changsheng Bio-technology, with the index tracking major healthcare firms down as much as 2.1 percent to a 13-month low. ** The unit of Changsheng Bio-technology, Changchun Changsheng Life Sciences Ltd, has been hit with penalties totalling 9.1 billion yuan ($1.31 billion) after it was embroiled in a scandal over falsifying data for a rabies vaccine ** Outperforming the market were Hainan-based firms, which jumped as Beijing granted the province free trade zone (FTZ) status on Tuesday. ** Hong Kong stock market is closed for holiday on Wednesday. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.76 percent while Japan’s Nikkei index was up 1.41 percent. ** The yuan was quoted at 6.924 per U.S. dollar, 0.07 percent weaker than the previous close of 6.9192. ** The largest percentage gainers in the main Shanghai Composite index were Hna Innovation Co Ltd, up 10.11 percent, followed by Gansu Ronghua Industry Group Co Ltd, gaining 10.04 percent and YanTai Yuancheng Gold Co Ltd , up by 10.03 percent. ** The largest percentage losses in the Shanghai index were Danhua Chemical Technology Co Ltd, down 10.07 percent, followed by Zhejiang Huayou Cobalt Co Ltd, losing 10.01 percent and Kangmei Pharmaceutical Co Ltd , down by 10.01 percent. ** So far this year, the Shanghai stock index is down 23.01 percent. Shanghai stocks have declined 9.75 percent this month. ** About 6.95 billion shares have traded so far on the Shanghai exchange, roughly 58.5 percent of the market’s 30-day moving average of 11.89 billion shares a day. The volume traded was 11.94 billion as of the last full trading day. ** 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 10.92 as of the last full trading day, while the dividend yield was 2.9 percent.

($1 = 6.9231 Chinese yuan)

Reporting by Luoyan Liu and John Ruwitch; Editing by Sunil Nair

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