January 16, 2019 / 7:52 AM / 8 months ago

China stocks end flat as stimulus hopes counter slowdown fears

* Shanghai Composite, blue-chip CSI300 end flat

* Huge China c.bank cash injection points to policy easing

* Property stocks gain on buoyant housing prices Gains in Shanghai stocks led by Wintime Energy Co Ltd and losses by Sanan Optoelectronics Co Ltd

SHANGHAI, Jan 16 (Reuters) - Shares in China ended flat on Wednesday as the central bank’s biggest-ever daily injection of cash through open-market operations underscored Beijing’s commitment to step up stimulus, amid signs of a slowdown and worries over global trade. ** At the close, the Shanghai Composite index was flat at 2,570.42. ** The blue-chip CSI300 index was up 0.02 percent, with its financial sector sub-index higher by 0.1 percent and the healthcare sub-index up 1.56 percent. ** Property shares rose after new data showed Chinese home prices remained buoyant in December despite tough government curbs. An index tracking real estate firms gained 0.38 percent. ** China’s central bank made its largest net injection via reverse repo operations on record, adding to evidence that Beijing is shifting to policy easing to counter a slowing economy. ** The smaller Shenzhen index ended down 0.12 percent and the start-up board ChiNext Composite index was higher by 0.081 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.13 percent, while Japan’s Nikkei index closed down 0.55 percent. ** At 07:30 GMT, the yuan was quoted at 6.7637 per U.S. dollar, 0.04 percent weaker than the previous close of 6.761. ** The largest percentage gainers on the main Shanghai Composite index were shares of Wintime Energy Co Ltd, up 10.17 percent, followed by Yunnan Coal & Energy Co Ltd, rising 10.16 percent and Tianjin Quanyechang Group Co Ltd , up 10.07 percent. ** The biggest percentage losers were counters of Sanan Optoelectronics Co Ltd, down 10 percent, followed by Zhongchang Big Data Corp Ltd losing 9.89 percent and Nancal Technology Co Ltd down by 7.32 percent. ** The Shanghai benchmark and CSI300 are up 3.1 percent and 3.9 percent, respectively, so far this year, while China’s H-share index listed in Hong Kong is up 4 percent. ** About 14.93 billion shares were traded on the Shanghai exchange, roughly 108.7 percent of the market’s 30-day moving average of 13.73 billion shares a day. The volume in the previous trading session was 16.03 billion. ** As of 07:31 GMT, China’s A-shares were trading at a premium of 17.43 percent over the Hong Kong-listed H-shares. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)

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