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

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

The Hang Seng index dropped 0.1% to 25,601.70 points. The Hong Kong China Enterprises Index 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 an 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 was lower by 0.15%, the consumer staples sector down 0.29%, the real estate index fell 0.42% and the healthcare sub-index down 0.84%. Chinese H-shares listed in Hong Kong fell 0.6% to 10,043.09, while the Hang Seng Index was down 0.1% at 25,601.70.

The smaller Shenzhen index was up 0.33% and the start-up board ChiNext Composite index was higher by 0.36%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.53% while Japan's Nikkei index was up 0.13%. The yuan 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, up 10.08%, followed by Tianjin Quanyechang Group Co Ltd, gaining 10.04%, and Beijing United Information Technology Co Ltd, up 10.01%.

The largest percentage losses in the Shanghai index were TVZone Media Co Ltd, down 9.98%, followed by Well Lead Medical Co Ltd, losing 5.58% and Zhongchang Big Data Corp Ltd, down 5.18%. The top gainers among H-shares were CSPC Pharmaceutical Group Ltd, up 1%, followed by Anhui Conch Cement Co Ltd, gaining 0.66% and Shenzhou International Group Holdings Ltd, up 0.37%. The three biggest H-shares percentage decliners were Guangzhou Automobile Group Co Ltd, down 4.69%, Dongfeng Motor Group Co Ltd, losing 3.5% and China Railway Group Ltd, down 2.9%.

 

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(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)