August 1, 2018 / 4:09 AM / 3 months ago

RPT-China stocks fall on new tariff worries, weak data; HK down 0.2 pct

(Repeats to fix formatting)

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

* HK->Shanghai Connect daily quota used 1.3 pct

* U.S. eyes 25 pct tariffs on $200bn of Chinese imports

SHANGHAI, Aug 1 (Reuters) - China’s main Shanghai stock market and Hong Kong’s Hang Seng Index fell on Wednesday, as plans by the U.S. to propose higher tariffs on $200 billion worth of Chinese imports brought trade war fears back into focus, and as new manufacturing data underscored a weak outlook for growth.

** At 03:32 GMT, the Shanghai Composite index was down 9.07 points or 0.32 percent at 2,867.33. ** China’s blue-chip CSI300 index was down 0.4 percent, with its financial sector sub-index lower by 0.81 percent, the consumer staples sector down 0.64 percent, the real estate index down 3.38 percent and healthcare sub-index down 0.86 percent. ** The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday ** China’s manufacturing sector grew at its slowest pace in eight months in July as export orders declined. ** Chinese H-shares listed in Hong Kong rose 0.02 percent at 11,026.7. while the Hang Seng Index was down 0.17 percent at 28,533.37. ** The smaller Shenzhen index was down 0.25 percent and the start-up board ChiNext Composite index was higher by 0.21 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.01 percent while Japan’s Nikkei index was up 0.57 percent. ** The yuan was quoted at 6.816 per U.S. dollar, 0.03 percent firmer than the previous close of 6.8181. ** On Wednesday, China set its yuan mid-point at 6.8293 per dollar, its weakest level since May 2017. ** The largest percentage gainers in the main Shanghai Composite index were Shanghai Shenhua Holdings Co Ltd up 10.1 percent, followed by Orient International Enterprise Ltd gaining 10.04 percent and GuiZhou YongJi Printing Co Ltd up by 10.03 percent. ** The largest percentage losses in the Shanghai index were Hunan Fangsheng Pharmaceutical Co Ltd down 8.74 percent, followed by Raisecom Technology Co Ltd losing 8.23 percent and Shenzhen Sunxing Light Alloys Materials Co Ltd down by 7.31 percent. ** So far this year, the Shanghai stock index is down 13.03 percent, while China’s H-share index is down 5.8 percent. ** The top gainers among H-shares were Guangzhou Automobile Group Co Ltd up 3.67 percent, followed by CSPC Pharmaceutical Group Ltd gaining 2.44 percent and ZhongAn Online P & C Insurance Co Ltd up by 1.95 percent. ** The three biggest H-shares percentage decliners were China Resources Land Ltd which has fallen 3.14 percent, China Vanke Co Ltd which has lost 2.8 percent and Huaneng Power International Inc down by 2.5 percent. ** About 8.23 billion shares have traded so far on the Shanghai exchange, roughly 60.3 percent of the market’s 30-day moving average of 13.65 billion shares a day. The volume traded was 11.89 billion as of the last full trading day. ** As of 03:32 GMT, China’s A-shares were trading at a premium of 17.36 percent over the Hong Kong-listed H-shares. ** 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 12.55 as of the last full trading day while the dividend yield was 2.6 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 0.12 percent to 30.49 trillion yuan. ** In Hong Kong, the sub-index of the Hang Seng index tracking energy shares dipped 0.3 percent while the IT sector rose 0.4 percent. ** Technology shares in the region have received a boost from strong quarterly earnings from Apple Inc ** The top gainer on Hang Seng was WH Group Ltd up 3.33 percent, while the biggest loser was Country Garden Holdings Co Ltd which was down 4.77 percent.

Reporting by Andrew Galbraith; Editing by Sunil Nair

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