September 5, 2018 / 4:57 AM / 7 months ago

China, HK stocks fall on concerns over China economy, trade war

* SSEC -0.9 pct, CSI300 -1.1 pct, HSI -1.7 pct

* Growth in China’s services sector weakens in Aug

* Investors brace for likely escalation of trade war

SHANGHAI, Sept 5 (Reuters) - China and Hong Kong stocks fell as worries about China’s economic health and Sino-U.S. trade conflicts curbed investor appetite for riskier assets.

** The CSI300 index was down 1.1 percent at 3,327.93 points, at the end of the morning session, while the Shanghai Composite Index lost 0.9 percent to 2,725.26 points.

** The Hang Seng index dropped 1.7 percent to 27,512.14 points. The Hong Kong China Enterprises Index lost 1.4 percent to 10,735.79.

** Growth in China’s services sector weakened again in August as new business picked up only slightly from July’s more than two-year low, a private survey showed on Wednesday.

** Market sentiment was also curbed by a likely escalation in the Sino-U.S trade war. U.S. President Donald Trump has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends this week.

** China’s CSI300 index financial sector sub-index was lower by 1.45 percent, the consumer staples sector down 0.84 percent, the real estate index down 2.49 percent and the healthcare sub-index down 0.41 percent. ** The smaller Shenzhen index was down 0.72 percent and the start-up board ChiNext Composite index was weaker by 0.73 percent. ** Around the region, MSCI’s Asia ex-Japan stock index slipped 0.90 percent, while Japan’s Nikkei index dropped 0.31 percent. ** The yuan was quoted at 6.8365 per U.S. dollar, 0.12 percent firmer than the previous close of 6.845. ** The largest percentage gainers in the main Shanghai Composite index were Shenzhen Geoway Co Ltd, up 10.15 percent, followed by Hunan Salt Industry Co Ltd, gaining 10.03 percent and Dynagreen Environmental Protection Group Co Ltd, up by 10 percent. ** The largest percentage losses in the Shanghai index were Nanjing Central Emporium Group Stocks Co Ltd, down 10.05 percent, followed by Milkyway Chemical Supply Chain Service Co Ltd, losing 6.81 percent and Orient Group Inc, down by 5.37 percent. ** As of 0439 GMT, China’s A-shares were trading at a premium of 18.68 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.

Reporting by Shanghai Newsroom, Editing by Sherry Jacob-Phillips

Nuestros Estándares:Los principios Thomson Reuters
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