China, Hong Kong stocks slip as global coronavirus cases surpass one million

Credit: REUTERS/ALY SONG

SSEC -0.3%, CSI300 -0.3%, HSI -0.6%

HK->Shanghai Connect daily quota used 0.6%, Shanghai->HK daily quota used 0%

FTSE China A50 -0.3%

SHANGHAI, April 3(Reuters) - China and Hong Kong stocks fell on Friday, as coronavirus worries continued to pressure the markets with infections surpassing one million globally.

** At the midday break, the Shanghai Composite index .SSEC was down 0.33% at 2,771.34 points.

** China's blue-chip CSI300 index .CSI300 was down 0.27%, with its financial sector sub-index .CSI300FS lower by 0.71%, the consumer staples sector .CSI000912 was up 1.1%, the real estate index .CSI000952 had gained 0.08% and the healthcare sub-index .CSI300HC was up 1.97%.

** Chinese H-shares listed in Hong Kong .HSCE fell 0.51% to 9,477.57, while the Hang Seng Index .HSI was down 0.6% at 23,141.47.

** The smaller Shenzhen index .SZSC was down 0.23% and the start-up board ChiNext Composite index .CNT was weaker by 0.3%.

** Global coronavirus cases surpassed 1 million on Thursday with more than 52,000 deaths as the pandemic further exploded in the United States and the death toll climbed in Spain and Italy, according to a Reuters tally of official data.

** Latest survey of China's economy also pointed to more signs of damage from the pandemic.

** China's services sector struggled to get back on its feet in March after a brutal month of unprecedented shop closures and public lockdowns amid the coronavirus outbreak, a private survey showed on Friday.

** "There are signs of lasting damage to domestic demand, and on top of that the external shock resulting from widespread lockdowns in other major economies is arriving fast and furious," analysts from Societe Generale said in a note on Thursday, noting Beijing's stimulus policy response has been "incremental".

** Business activity in Hong Kong deteriorated further in March, a private survey showed on Friday, as demand, output and confidence plunged amid the deepening coronavirus pandemic.

** The top official in Wuhan, the epicentre of the coronavirus epidemic in China, warned residents to strengthen self-protection measures and avoid going out as Beijing preaches vigilance to avoid a resurgence of infections.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.57% while Japan's Nikkei index .N225 was down 0.62%.

** The yuan CNY=CFXS was quoted at 7.0894 per U.S. dollar, 0.1% weaker than the previous close of 7.0821.

** As of 04:27 GMT, China's A-shares were trading at a premium of 27.76% over the Hong Kong-listed H-shares.

(Reporting by Luoyan Liu and Andrew Galbraith; Editing by Vinay Dwivedi)

((luoyan.liu@thomsonreuters.com; Reuters Messaging: luoyan.liu.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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