April 12, 2019 / 4:33 AM / 2 months ago

China, Hong Kong stocks fall ahead of trade data

* SSEC -0.4 pct, CSI300 -0.8 pct, HSI -0.4 pct

* HK->Shanghai Connect daily quota used -0.1 pct, Shanghai->HK daily quota used 0.9 pct

* FTSE China A50 -1.0 pct, BNY Mellon ADR China Select Index +0.0 pct

SHANGHAI, April 12 (Reuters) - China and Hong Kong stocks softened on Friday, as investors awaited trade data for signs of recovery in the world’s largest economy amid mounting worries over slowing global growth.

** The CSI300 index fell 0.8 percent, to 3,966.85, at the end of the morning session, while the Shanghai Composite Index lost 0.4 percent, to 3,175.84.

** The Hang Seng index dropped 0.4 percent, to 29,732.20, while the Hong Kong China Enterprises Index lost 0.3 percent, to 11,580.68.

** China’s March trade data will be out Friday afternoon.

** China’s exports are expected to have rebounded in March after a sharp drop in February, while imports likely shrank for a fourth straight month but at a more modest pace, a Reuters poll showed.

** A bigger-than-expected slowdown in China’s economy is among key risks to global growth, International Monetary Fund Deputy Managing Director Mitsuhiro Furusawa warned, as G20 finance leaders gather to discuss a darkening world economic outlook.

** Most sectors lost ground on the mainland, led by materials and consumer firms.

** “The overall valuations of the A-share market and Chinese stocks listed offshore are not yet expensive, though the extent of the valuations recovery is relatively evident,” investment bank CICC said in report.

** The A-share market rally this year is mainly attributed to valuations expansion rather than a pick-up in corporate earnings, CICC pointed out.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.15 percent, while Japan’s Nikkei index was up 0.50 percent.

** The yuan was quoted at 6.72 per U.S. dollar, 0.01 percent weaker than the previous close of 6.719.

** The largest percentage gainers on the main Shanghai Composite index were Harbin Dongan Auto Engine Co Ltd , up 10.08 percent, followed by Zhangjiagang Freetrade Science & Technology Group Co Ltd, gaining 10.08 percent, and Sumec Corp Ltd, up by 10.06 percent.

** The largest percentage losers on the Shanghai index were Shanghai Shenqi Pharmaceutical Investment Management Co Ltd , down 9.39 percent, followed by KPC Pharmaceuticals Inc, losing 8.5 percent, and CSSC Offshore & Marine Engineering Group Co Ltd, down by 8.23 percent.

** So far this year, the Shanghai stock index is up 27.91 percent, while China’s H-share index is up 14.7 percent. Shanghai stocks have risen 3.21 percent this month.

** The top gainers among H-shares were Huaneng Power International Inc, up 2.54 percent, followed by China Tower Corp Ltd, gaining 1.97 percent, and China National Building Material Co Ltd, up by 1.5 percent.

** The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd, which has fallen 4.80 percent, Guangzhou Automobile Group Co Ltd, which has lost 3.1 percent, and Dongfeng Motor Group Co Ltd, down by 3.0 percent.

** About 16.89 billion shares have traded so far on the Shanghai exchange, roughly 40.7 percent of the market’s 30-day moving average of 41.52 billion shares a day. The volume traded was 35.30 billion as of the last full trading day.

** As of 04:15 GMT, China’s A-shares were trading at a premium of 25.03 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; Editing by Subhranshu Sahu

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