SHANGHAI: China and Hong Kong stocks fell on Wednesday, tracking losses on the Wall Street where tech firms were hit hard on concerns over tighter government scrutiny on the industry.
At 0403 GMT, the Shanghai Composite index was down 1.11 percent at 3,131.48, while China's blue-chip CSI300 index slipped 1.61 percent to 3,850.44.
Chinese H-shares listed in Hong Kong dropped 1.56 percent to 12,109.25, while the Hang Seng Index was down 1.47 percent at 30,336.92.
The smaller Shenzhen index slipped 0.75 percent and the start-up board ChiNext Composite index was weaker by 0.3 percent.
The retreat pointed to fragile sentiment as many analysts suggested caution at a time when trade spat worries pulled down sentiment. ** The information tech sector was the hardest hit in Hong Kong, tumbling 3.2 percent.
On the mainland, the retreat was led by a slump in consumer firms, with bellwether Kweichow Moutai falling 5.2 percent after posting full-year results.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.11 percent, while Japan's Nikkei index dropped 1.84 percent.
The yuan was quoted at 6.2784 per US dollar, 0.01 percent weaker than the previous close of 6.2775.
The largest percentage gainers in the main Shanghai Composite index were Sinomach Automobile Co Ltd, which climbed 10.05 percent, followed by Tianjin Capital Environmental Protection Group Co Ltd, which gained 10.02 percent and Xinjiang Tianrun Dairy Co Ltd that rose 9.99 percent.
The largest percentage losses in the Shanghai index were Wuhan DDMC Culture Co Ltd, which fell 8.82 percent, followed by Sanjiang Shopping Club Co Ltd, which lost 7.72 percent and Zhe Jiang Dong Ri Ltd Co that skid 7.47 percent.
The top gainers among H-shares were China Vanke Co Ltd , which climbed 2.65 percent, followed by SINOPHARM GROUP CO LTD, which rose 2.64 percent and CGN Power Co Ltd that gained 0.19 percent.
The three biggest H-shares percentage decliners were Byd Co Ltd, which fell 9.76 percent, Air China Ltd, which lost 6.7 percent and Guangzhou Automobile Group Co Ltd that was down by 4.6 percent.
About 9.70 billion shares have traded so far on the Shanghai exchange, roughly 56.6 percent of the market's 30-day moving average of 17.13 billion shares a day. The volume traded was 18.91 billion as of the last full trading day.
As of 0403 GMT, China's A-shares were trading at a premium of 24.53 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 14.23 as of the last full trading day, while the dividend yield was 2.1 percent.
Comments
Comments are closed for this article.