July 26, 2019 / 4:47 AM / in a month

China, Hong Kong stocks track Wall Street lower; STAR board retreats

* SSEC -0.2%, CSI300 -0.1%, HSI -0.5%

* HK->Shanghai Connect daily quota used -0.6%

* Shanghai->HK daily quota used 2.9%

* FTSE China A50 +0.0%

SHANGHAI, July 26(Reuters) - China and Hong Kong stocks fell on Friday, tracking overnight losses on the Wall Street on mixed earnings reports, and after the European Central Bank held interest rates steady unexpectedly.

Stocks on the newly launched STAR board retreated as well as investors pocketed gains following initial euphoria.

** The CSI300 index fell 0.1% to 3,845.94 at the end of the morning session, while the Shanghai Composite Index lost 0.2% to 2,932.60.

** The Hang Seng index dropped 0.5% to 28,467.04, while the Hong Kong China Enterprises Index lost 0.5%, to 10,876.36.

** Wall Street shares fell from record highs on Thursday, with the S&P 500 losing 0.53%, following a flurry of downbeat quarterly results from Ford Motor and other companies.

** Investors were cautious amid lingering uncertainties over whether Washington and Beijing will be able to settle gaping differences over trade, technology and even geopolitical ambitions.

** Lead negotiators for China and the United States will meet in Shanghai on Tuesday for two days in the next round of trade talks, China’s commerce ministry confirmed.

** On the STAR board, 23 of the 25 stocks fell by lunch break, led by Fujian Forecam Optics Co Ltd slumping 14.3%.

** That came only two days after Fujian Forecam Optics hit a new peak, highlighting marked volatility on the new board as retail investors piled in.

** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.49% while Japan’s Nikkei index was down 0.49%.

** The yuan was quoted at 6.8785 per U.S. dollar, 0.07% weaker than the previous close of 6.8734.

** The largest percentage gainers in the main Shanghai Composite index were Zhengping Road & Bridge Construction Co Ltd , up 10.05%, followed by DuZhe Publishing&Media Co Ltd, gaining 10.04% and BOMESC Offshore Engineering Co Ltd, up by 10%.

** The largest percentage losers in the Shanghai index were FUREN Group Pharmaceutical Co Ltd, down 10.03%, followed by Neusoft Corp, losing 6.68% and L&K Engineering Suzhou Co Ltd, down by 6.54%.

** The top gainers among H-shares were China Pacific Insurance Group Co Ltd, up 1.19%, followed by New China Life Insurance Co Ltd, gaining 1.04% and China National Building Material Co Ltd, up by 0.85%.

** The three biggest H-shares percentage decliners were SINOPHARM GROUP CO LTD, which has fallen 3.48%, CSPC Pharmaceutical Group Ltd, which has lost 2.4% and Guangdong Investment Ltd, down by 2.1%.

** About 7.64 billion shares have traded so far on the Shanghai exchange, roughly 41.7% of the market’s 30-day moving average of 18.31 billion shares a day. The volume traded was 14.57 billion as of the last full trading day.

** As of 0418 GMT, China’s A-shares were trading at a premium of 28.25% over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch; editing by Gopakumar Warrier

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