Financials, consumer weigh on China A-shares as tech lifts Hang Seng

SHANGHAI: Chinese shares fell on Tuesday, dragged lower by financials and consumer firms even as the country's cabinet pledged more support for the consumer services sector, while tech stocks drove Hong Kong's Hang Seng index higher.

** At the midday break, the Shanghai Composite index was down 0.62% at 3,522.33 points.

** China's blue-chip CSI300 index was down 0.67%, with its financial sector sub-index lower by 2.07%, the consumer staples sector down 0.4%, the real estate index down 1.33% and the healthcare sub-index down 0.13%.

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** China's cabinet issued guidelines to develop consumer services, including increased financial support for small firms providing catering, accommodation, childcare, healthcare and services for the elderly.

** Energy firms also fell, with an index tracking the sector down 2.44% after dropping nearly 13% on Monday. China said on Sunday it was releasing gasoline and diesel reserves to boost market supply and stabilise prices.

** Chinese H-shares listed in Hong Kong rose 0.72% to 8,963.72, while the Hang Seng Index was up 0.74% at 25,339.33.

** The broad index was lifted by gains in the tech sector , which rose 2.29%. Meituan rose 5%, while game publisher Bilibili rose 8.18% after five sessions of losses.

** The smaller Shenzhen index was unchanged for the day, the start-up board ChiNext Composite index was higher by 1.1% and Shanghai's tech-focused STAR50 index was up 0.96%.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.29% while Japan's Nikkei index was down 0.44%.

** The yuan was quoted at 6.3992 per US dollar, 0.02% weaker than the previous close of 6.3982.

** So far this year, the Shanghai stock index is up 1.4% and the CSI300 has fallen 6.8%, while China's H-share index listed in Hong Kong is down 16.5%. Shanghai stocks have declined 0.7% this month.