SHANGHAI: Chinese A-shares fell on Monday, dragged lower by financials and consumer firm stocks, as tough new Western sanctions on Russia after its invasion of Ukraine pushed investors away from riskier assets.
** At the midday break, the Shanghai Composite index was down 0.14% at 3,446.44.
** China's blue-chip CSI300 index was down 0.36%, with its financial sector sub-index lower by 0.73%, the consumer staples sector down 0.64%, the real estate index down 1.61% and the healthcare sub-index down 0.59%.
** Chinese H-shares listed in Hong Kong fell 1.15% to 7,899.62, while the Hang Seng Index was down 1.38% at 22,452.16.
China stocks track global sell-off
** The Hang Seng earlier hit its lowest level since March 24, 2020, and is just 6.2% higher than its lowest point in March 2020 at the peak of global market panic over the initial spread of COVID-19.
** The smaller Shenzhen index was down 0.27%, the start-up board ChiNext Composite index was higher by 0.11% and Shanghai's tech-focused STAR50 index was down 0.07%.
** Materials, energy and defence shares rose as investors bet on sectors they saw as potentially benefiting from the conflict in Ukraine.
** The CSI Defence index was 1.77% higher and the SSE Resource index added 1.66%.
** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.90% while Japan's Nikkei down 0.42%.
** The yuan was quoted at 6.3112 per dollar, 0.09% firmer than the previous close of 6.317.
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