August 29, 2018 / 7:24 AM / 10 months ago

China stocks end lower, state planner warns of growth risks

* Shanghai stocks lower, blue-chip CSI300 index down

* Gains in Shanghai led by China Science Publishing & Media Ltd

* Zhongman Petroleum & Natural Gas Group top losing Shanghai stock

* China’s A-shares at a 16.92 percent premium over H-shares

SHANGHAI, Aug 29 (Reuters) - Chinese stocks fell on Wednesday, as the country’s state planner warned of more risks to growth in the second half of 2018.

** The blue-chip CSI300 index fell 0.4 percent to 3,386.57 points, while the Shanghai Composite Index ended down 0.3 percent at 2,769.29 points. ** Most sectors lost ground, led by transport firms . ** China’s state planner head has warned the economy faces increased risks in the second half of this year and that greater efforts are needed for policymakers to hit economic development goals as external challenges intensify. ** Shares of China’s biggest state-owned lenders were mixed after posting higher profits and steady bad loan ratios in the first half of the year. An index tracking major lenders fell 0.2 percent.

** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.18 percent while Japan’s Nikkei index closed up 0.15 percent. ** At 07:08 GMT, the yuan was quoted at 6.8187 per U.S. dollar, 0.23 percent weaker than the previous close of 6.803. ** The largest percentage gainers in the main Shanghai Composite index were China Science Publishing & Media Ltd up 10.05 percent, followed by QuMei Home Furnishings Group Co Ltd gaining 10.03 percent and 360 Security Technology Inc up by 10 percent. ** The largest percentage losses in the Shanghai index were Zhongman Petroleum and Natural Gas Group Corp Ltd down 10.01 percent, followed by Shanghai Shibei Hi-Tech Co Ltd losing 9.21 percent and Shenzhen Geoway Co Ltd down by 6.07 percent. ** So far this year, the Shanghai stock index is down 16.3 percent, the CSI300 has fallen 16 percent while China’s H-share index listed in Hong Kong is down 5.4 percent. Shanghai stocks have declined 3.72 percent this month. ** About 10.02 billion shares were traded on the Shanghai exchange, roughly 74.3 percent of the market’s 30-day moving average of 13.48 billion shares a day. The volume in the previous trading session was 11.87 billion. ** As of 07:09 GMT, China’s A-shares were trading at a premium of 16.92 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 11.89 as of the last full trading day while the dividend yield was 2.7 percent. ** So far this week, the market capitalisation of the Shanghai stock index has risen by 1.78 percent to 29.58 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Amrutha Gayathri)

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