June 24, 2019 / 4:41 AM / 24 days ago

China, HK stocks subdued as investors brace for trade talks

* SSEC -0.1%, CSI300 0.0%, HSI 0.2%

* HK->Shanghai Connect daily quota used -2.2%, Shanghai->HK daily quota used 0.2%

* FTSE China A50 +0.3%

SHANGHAI, June 24 (Reuters) - China and Hong Kong stocks held steady on Monday, as investors pinned their hopes for any signs of thaw in the Sino-U.S. trade negotiations at the G20 summit later this week.

** The CSI300 index was unchanged at 3,834.45 points at the end of the morning session, while the Shanghai Composite Index lost 0.1% to 2,999.30 points.

** The Hang Seng index added 0.2% to 28,538.39 points, while the Hong Kong China Enterprises Index gained 0.4% to 10,959.33 points.

** The G20 summit will be held in the city of Osaka on June 27-29. ** China’s President Xi Jinping will attend the G20 summit in Japan this week, state-run Xinhua news agency said on Sunday, giving the first official confirmation of his attendance at a gathering where he is expected to meet U.S. President Donald Trump.

** The news came after U.S. Vice President Mike Pence on Friday decided to call off a planned China speech, which also increased optimism on upcoming trade talks with Beijing. Pence had upset China with a fierce speech in October in which he laid out a litany of complaints ranging from state surveillance to human-rights abuses.

** “While Trump may agree to postpone further tariffs, we doubt that any ceasefire will prove durable. With views on U.S.-China relations hardening on both sides of the Pacific, it is increasingly difficult to envisage a deal that would be acceptable to both sides. Our base case is still that by early next year, the U.S. will have imposed tariffs on nearly all imports from China,” Capital Economics said.

** China and the United States should make compromises in trade talks, Chinese Vice Commerce Minister Wang Shouwen said on Monday, ahead of a much-anticipated meeting between the Chinese and U.S. presidents at this week’s G20 summit in Japan.

** Despite hopes, the picture remained mixed.

** The U.S. Commerce Department said on Friday it was adding several Chinese companies and a government-owned institute involved in super computing with military applications to its national security “entity list” that bars them from buying U.S. parts and components without government approval.

** U.S. President Donald Trump is looking to require next-generation 5G cellular equipment used in the United States to be designed and manufactured outside China, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

** Stocks of China’s 5G-related companies fell after the report raised concerns about the technology sector.

** In China, the Global Times newspaper said U.S.-based FedEx Corp is likely to be added to Beijing’s “unreliable entities list”.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.18% while Japan’s Nikkei index was up 0.22%.

** The yuan was quoted at 6.8769 per U.S. dollar, 0.14% weaker than the previous close of 6.8675.

** The largest percentage gainers in the main Shanghai Composite index were Ye Chiu Metal Recycling China Ltd , up 10.13%, followed by Xinjiang Tianye Co Ltd , gaining 10.08% and Aerosun Corp, up by 10.01%.

** The largest percentage losses in the Shanghai index were Holsin Engineering Consulting Group Co Ltd, down 9.97%, followed by Xuancheng Valin Precision Technology Co Ltd , losing 8.01% and Sichuan Furong Technology Co Ltd , down by 7.24%.

** The top gainers among H-shares were ANTA Sports Products Ltd, up 5.87%, followed by China Gas Holdings Ltd , gaining 4.67% and Dongfeng Motor Group Co Ltd , up by 2.9%.

** The three biggest H-shares percentage decliners were China Telecom Corp Ltd, which dropped 2.03%, China Petroleum & Chemical Corp, which lost 1.1% and SINOPHARM GROUP CO LTD, down by 0.9%.

** As of 0418 GMT, China’s A-shares were trading at a premium of 26.86% over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch, Editing by Sherry Jacob-Phillips

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