November 13, 2019 / 5:06 AM / a month ago

China stocks flat as Trump dashes hopes for trade deal details; HK shares down

SHANGHAI, Nov 13 (Reuters) - China stocks were little changed on Wednesday amid escalating fears that U.S.-China trade talks are not making progress, while Hong Kong shares lost nearly 2% as protests spread across the city.

** The CSI300 index was unchanged at 3,904.04 points at the end of the morning session, while the Shanghai Composite Index lost 0.2%, to 2,910.55 points.

** The Hang Seng index dropped 1.8%, to 26,587.81 points, while the Hong Kong China Enterprises Index lost 1.4%, to 10,537.05.

** Trump said a trade deal was “close” but gave no new details on when or where an agreement would be signed, disappointing investors in what was billed as a major speech on his administration’s economic policies. ** But the market received some support from Chinese Premier Li Keqiang, who said China should use counter-cyclical adjustment measures more effectively. The government also said it will improve the use of local government special bonds and strengthen support for the real economy.

** Hong Kong’s stock market dropped to a three-week low in early trade on Wednesday, after the city’s embattled leader, Carrie Lam, said protesters trying to paralyse the city were being “extremely selfish”.

** As anti-government protesters paralysed parts of the Asian financial hub for a third day, Chinese state media condemned the violence, with the China Daily newspaper stating that young protesters were revelling in a “hormone-fuelled ‘rebellion’”.

** China’s smaller Shenzhen index was up 0.11% and the start-up board ChiNext Composite index was 0.55% higher. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.95% while Japan’s Nikkei index was down 0.90%. ** The yuan was quoted at 7.0213 per U.S. dollar, 0.2% weaker than the previous close of 7.0073. ** The largest percentage gainers in the main Shanghai Composite index were Fujian Start Group Co Ltd, up 10.02%, followed by Anhui Gourgen Traffic Construction Co Ltd , gaining 10% and Zhejiang Jinghua Laser Technology Co Ltd, up by 10%. ** The largest percentage losses in the Shanghai index were Anhui Andeli Department Store Co Ltd, down 10.02%, followed by Shanghai Fengyuzhu Exhibition Co Ltd, losing 10.02% and Shangying Global Co Ltd, down by 9.99%. ** The top gainers among H-shares were China Resources Beer Holdings Co Ltd, up 0.46%, followed by China Gas Holdings Ltd, gaining 0.44% and CSPC Pharmaceutical Group Ltd, up by 0%. ** The three biggest H-shares percentage decliners were Hengan International Group Company Ltd, which has fallen 2.8%, CNOOC Ltd, which has lost 2.74% and Country Garden Holdings Co Ltd, down by 2.49%. (Reporting by Samuel Shen and John Ruwitch)

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