May 24, 2018 / 4:17 AM / 7 months ago

China, HK stocks little changed amid renewed trade concerns

* SSEC 0.0 pct, CSI300 -0.1 pct, HSI 0.1 pct

* HK->Shanghai Connect daily quota used 0.9 pct, Shanghai->HK daily quota used 0.2 pct

* FTSE China A50 -0.1 pct, BNY Mellon ADR China Select Index +0.4 pct

SHANGHAI, May 24 (Reuters) - China and Hong Kong stocks barely moved on Thursday, as caution prevailed amid renewed concerns over China-U.S. trade tensions.

** The CSI300 index fell 0.1 percent to 3,851.86 points at the end of the morning session, while the Shanghai Composite Index was unchanged at 3,167.83 points. ** The Hang Seng index added 0.1 percent to 30,686.97 points, while the Hong Kong China Enterprises Index gained 0.4 percent to 12,134.08. ** U.S. President Donald Trump signalled a new direction in U.S.-China trade talks and said any deal would need “a different structure,” fuelling uncertainty over current negotiations. ** However, sentiment was aided by U.S. Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates. ** Dairy producers rallied as Beijing plans more measures to boost dairy industry, with Lanzhou Zhuangyuan Pasture up 10 percent in Shenzhen and 6.5 percent in Hong Kong. ** China’s central bank pledged on Wednesday to improve its information disclosure as part of steps to make its policy-making process more transparent. ** “We will continuously improve the central bank’s credibility and transparency,” the PBOC said in a notice published on its website. ** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.14 percent while Japan’s Nikkei index was down 1.22 percent . ** The yuan was quoted at 6.392 per U.S. dollar, 0.06 percent weaker than the previous close of 6.3883. ** The largest percentage gainers in the main Shanghai Composite index were Hainan Haiqi Transportation Group Co Ltd up 10.02 percent, followed by Zhejiang Tieliu Clutch Co Ltd gaining 10.02 percent and Wenyi Suntech Co Ltd up by 10.01 percent. ** The largest percentage losses in the Shanghai index were TVZone Media Co Ltd down 8.3 percent, followed by Shanghai Baosight Software Co Ltd losing 6.48 percent and Zhende Medical Co Ltd down by 5.6 percent. ** The top gainers among H-shares were China Petroleum & Chemical Corp up 2.6 percent, followed by China Shenhua Energy Co Ltd gaining 2.48 percent and PetroChina Co Ltd up by 1.63 percent. ** The three biggest H-shares percentage decliners were Guangdong Investment Ltd which has fallen 2.68 percent, Dongfeng Motor Group Co Ltd which has lost 2.3 percent and Anhui Conch Cement Co Ltd down by 1.6 percent. ** About 6.63 billion shares have traded so far on the Shanghai exchange, roughly 46.8 percent of the market’s 30-day moving average of 14.16 billion shares a day. The volume traded was 15.78 billion as of the last full trading day. ** As of 0401 GMT, China’s A-shares were trading at a premium of 20.98 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is below its 50-day moving average and below its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 13.58 as of the last full trading day, while the dividend yield was 2.3 percent.

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

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