SHANGHAI: China’s major share indexes fell on Wednesday, with the blue-chip index CSI300 slipping from a two-month high, as a sharp drop in heavyweight battery maker CATL weighed on the broader index.
** At the midday break, the Shanghai Composite index was down 0.7% at 3,219.15.
** China’s blue-chip CSI300 index was down 0.41% after touching its highest level since April 8 earlier in the session.
** Shares of Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL), a supplier to Tesla , slumped 6.78%, making it the day’s biggest drag on the CSI300.
** The drop came after a senior BYD Co Ltd executive said BYD is preparing to supply Tesla with batteries “very soon”.
** BYD’s shares rose 2.18% in Hong Kong and 0.18% in Shenzhen.
** Consumer staples shares rose 1.5% on continuing hopes for demand recovery, as COVID-19 curbs ease and investors hope for more stimulus.
** Chinese H-shares listed in Hong Kong rose 2.05% to 7,621.19, while the Hang Seng Index was up 1.7% at 21,897.83.
** The Hang Seng Tech index jumped 3.37%, with Bilibili Inc rising 10% after China’s gaming regulator granted publishing licences to 60 games.
** The smaller Shenzhen index was down 1.21%, the start-up board ChiNext Composite index was weaker by 1.7% and Shanghai’s tech-focused STAR50 index was down 1.31%?.
** Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.79%, while Japan’s Nikkei index was up 0.87%.
** The yuan was quoted at 6.6742 per US dollar, 0.05% weaker than the previous close of 6.6712.
** So far this year, the Shanghai stock index is down 11.6% and the CSI300 has fallen 15.8%, while China’s H-share index listed in Hong Kong is down 7.5%. Shanghai stocks have risen 1.03% this month.
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