China stocks slip as more trade news awaited, property shares fall

Credit: REUTERS/CHINA STRINGER NETWORK

China stocks dipped on Tuesday, as declines in property shares offset gains in technology names. Hong Kong stocks remained under pressure due to the political crisis.

SHANGHAI, Sept 3 (Reuters) - China stocks dipped on Tuesday, as declines in property shares offset gains in technology names. Hong Kong stocks remained under pressure due to the political crisis.

** The CSI300 index .CSI300 declined 0.1% to 3,846.25 points at the end of the morning session, while the Shanghai Composite Index .SSEC lost 0.1% to 2,922.54 points.

** The Hang Seng index .HSI dropped 0.1% to 25,601.70 points. The Hong Kong China Enterprises Index .HSCE lost 0.6% to 10,043.09.

** Investors were tracking the latest on the Sino-U.S. trade dispute after the countries slapped fresh tariffs on each other's exports over the weekend.

** China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, the Chinese Commerce Ministry said on Monday.

** The trade war's impact on China's economy is limited, said Kim Eng, S&P's primary sovereign analyst for China. "I would not expect U.S. tariffs by themselves to cause the Chinese economy to weaken so much that we have to lower the rating," Eng said.

** There's also expectation that Beijing would be ready to intervene to prevent sharp market sell-offs ahead of the 70th anniversary of the founding of the People's Republic of China on Oct. 1.

** China's CSI financial sector sub-index .CSI300FS was lower by 0.15%, the consumer staples sector .CSI000912 down 0.29%, the real estate index .CSI000952 fell 0.42% and the healthcare sub-index .CSI300HC down 0.84%.

** Chinese H-shares listed in Hong Kong .HSCE fell 0.6% to 10,043.09, while the Hang Seng Index .HSI was down 0.1% at 25,601.70.

** The smaller Shenzhen index .SZSC was up 0.33% and the start-up board ChiNext Composite index .CNT was higher by 0.36%.

** Around the region, MSCI's Asia ex-Japan stock index .MIAPJ0000PUS was weaker by 0.53% while Japan's Nikkei index .N225 was up 0.13%.

** The yuan CNY=CFXS was quoted at 7.183 per U.S. dollar, 0.16% weaker than the previous close of 7.1717.

** The largest percentage gainers in the main Shanghai Composite index were Saurer Intelligent Technology Co Ltd 600545.SS, up 10.08%, followed by Tianjin Quanyechang Group Co Ltd 600821.SS, gaining 10.04%, and Beijing United Information Technology Co Ltd 603613.SS, up 10.01%.

** The largest percentage losses in the Shanghai index were TVZone Media Co Ltd 603721.SS, down 9.98%, followed by Well Lead Medical Co Ltd 603309.SS, losing 5.58% and Zhongchang Big Data Corp Ltd 600242.SS, down 5.18%.

** The top gainers among H-shares were CSPC Pharmaceutical Group Ltd 1093.HK, up 1%, followed by Anhui Conch Cement Co Ltd 0914.HK, gaining 0.66% and Shenzhou International Group Holdings Ltd 2313.HK, up 0.37%.

** The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd 2238.HK, down 4.69%, Dongfeng Motor Group Co Ltd 0489.HK, losing 3.5% and China Railway Group Ltd 0390.HK, down 2.9%.

China stock market graphics suite http://reut.rs/1NfkoGl

(Reporting by Samuel Shen and John Ruwitch; Editing by Sriraj Kalluvila)

((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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