China stocks extend slump, Shanghai at lowest close since Jan 2016

* Shanghai stocks lower, blue-chip CSI300 index down

* SSEC at lowest close since Jan. 28 2016

* CSI at lowest close since Aug. 4, 2016

SHANGHAI, Sept 12 (Reuters) - China's main stock index on Wednesday closed at its lowest level since January 2016, as trade war concerns continued to vex investor confidence with China seeking $7 billion in sanctions against the United States over dumping duties.

** The Shanghai Composite index ended 0.3 percent lower
at 2,656.11, its weakest close since Jan. 28, 2016.
** The blue-chip CSI300 index ended 0.7 percent lower at
3,202.02, its lowest close since Aug. 4, 2016.
** The CSI300 financial sector sub-index fell 0.21
percent, the consumer staples sector ended 1.94 percent lower,
the real estate index finished 0.42 percent lower and the
healthcare sub-index shed 2.84 percent.
** The smaller Shenzhen index ended down 0.41 percent
and the start-up board ChiNext Composite index was
weaker by 0.67 percent.
** China told the World Trade Organization it wanted to impose
$7 billion a year in sanctions on the United States in
retaliation for Washington's non-compliance with a ruling in a
dispute over U.S. dumping duties.
** Chinese Vice Premier Hu Chunhua said on Wednesday countries
should "categorically reject" protectionism in trade.
** Bank of England Governor Mark Carney said China's financial
system poses one of the bigger risks to global financial
** Around the region, MSCI's Asia ex-Japan stock index
was weaker by 0.36 percent, while Japan's Nikkei
index closed down 0.27 percent.
** At 0714 GMT, the yuan was quoted at 6.872 per
dollar, largely unchanged from the previous close.
** The largest percentage gainers on the main Shanghai Composite
index were Will Semiconductor Co Ltd Shanghai, up
10.01 percent, followed by Guizhou Guihang Automotive Components
Co Ltd, which gained 10 percent and Ningbo Fuda Co
Ltd, up by 10 percent.
** The largest percentage losses on the Shanghai index were
Jinzhou Jixiang Moly Co Ltd, down 10.03 percent,
followed by Jonjee Hi-tech Industrial and Commercial Holding Co
Ltd, which lost 5.81 percent and LBX Pharmacy Chain
JSC, down by 5.16 percent.
** So far this year, the Shanghai stock index has slid 19.7
percent, the CSI300 has fallen 20.6 percent while China's
H-share index listed in Hong Kong is down 12.7 percent. Shanghai
stocks have declined 2.54 percent this month.
** About 9 billion shares were traded on the Shanghai exchange,
roughly 76 percent of the market's 30-day moving average of
11.83 billion shares a day.
** As of 0715 GMT, China's A-shares were trading at a
premium of 21.61 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 11.21
as of the last full trading day, while the dividend yield was
2.8 percent.
** So far this week, the market capitalisation of the Shanghai
stock index has fallen by 1.34 percent to 28.39 trillion yuan.
(Reporting by Andrew Galbraith; editing by Sai Sachin

2018-09-12 09:35:04

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