December 21, 2018 / 4:57 AM / 6 months ago

Chinese stocks fall weighed down by banks, developers; Hong Kong slips

* SSEC down 1.0 pct, CSI300 falls 1.4 pct; HSI 0.2 pct lower

* FTSE China A50 down 1.7 pct, BNY Mellon ADR China Select Index 0.3 pct lower

* Tencent up as much as 4.2 pct

SHANGHAI, Dec 21 (Reuters) - China stocks extended losses on Friday, led by the fall in banking and real estate counters.

** The CSI300 index fell 1.4 percent to 3,025.14 at the end of the morning session, while the Shanghai Composite Index lost 1.0 percent to 2,510.78. The two indexes were on track for their fifth and fourth straight days of losses, respectively.

** “The recent sluggishness in the A-share market is partly due to the continued sharp corrections in external markets, in particular in the U.S. stock market,” said Zhu Junchun, an analyst with Lianxun Securities.

** The sentiment was also curbed after the United States accused Beijing of orchestrating the hacking of government agencies and companies around the world.

** Main sectors fell across the board, led by sectoral indexes of banks and real estate firms.

** China’s central bank said on Thursday it will strengthen the oversight of the reserves that commercial banks and other lenders are required to deposit to ensure timely and full payment.

** In Hong Kong, the Hang Seng index dropped 0.2 percent to 25,570.18, while the Hong Kong China Enterprises Index lost 0.7 percent to 10,017.64.

** Tencent Holdings Ltd’s shares jumped by as much as 4.2 percent on Friday after a regulatory official said that some new games have been cleared for sale after a lengthy freeze in approvals.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.27 percent, while Japan’s Nikkei index was down 1.33 percent.

** The yuan was quoted at 6.89 per U.S. dollar, 0.09 percent weaker than the previous close of 6.8835.

** The largest percentage gainers in the main Shanghai Composite index were shares of China Sports Industry Group Co Ltd, up 9.99 percent, followed by Hunan Salt Industry Co Ltd, gaining 9.95 percent, and Shanghai U9 Game Co Ltd, up 9.8 percent.

** The largest percentage losers in the Shanghai index were shares of Dalian Sunasia Tourism Holding Co Ltd, down 10.01 percent, followed by Guangdong Songfa Ceramics Co Ltd , losing 10 percent, and Shanghai Trendzone Construction Decoration Group Co Ltd, down by 7.28 percent.

** So far this year, the Shanghai stock index is down 23.31 percent, while China’s H-share index is down 13.8 percent. Shanghai stocks have declined 2.01 percent this month.

** As of 04:14 GMT, China’s A-shares were trading at a premium of 18.34 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Rashmi Aich

Nuestros Estándares:Los principios Thomson Reuters
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