China Stocks Flat On Trade Uncertainty Caution Over Economy
SHANGHAI, Dec 10 (Reuters) - China stocks were nearly flat on Tuesday and trading was thin, as investors waited to see if the United States would slap fresh tariffs on Chinese goods on Dec.
15, a move that was likely to complicate efforts to defuse the prolonged trade war.
** Investors remain circumspect after data showed China's producer prices fell for the fifth consecutive month in November, while consumer prices spiked as food costs climbed, complicating policymakers' efforts to boost demand as economic growth slows.
** The blue-chip CSI300 index rose 0.1% to 3,900.38, while the Shanghai Composite Index also gained 0.1% to 2,917.32 points.
** A Chinese official said on Monday Beijing hopes to make a trade deal with Washington as soon as possible before new U.S.
tariffs are due to kick in this weekend, but investors are refraining from making big bets on an interim deal.
** Reflecting sober investor tour nam ninh sentiment, shares of Postal Savings Bank of China (PSBC) staged a subdued Shanghai debut on Tuesday. The shares rose 2% to 5.61 yuan, tour nam ninh compared with the IPO price of 5.50 yuan.
** China's CSI 300 financial sector sub-index dipped 0.29%, the consumer staples sector was down 0.5%, the real estate index lost 0.54% and the healthcare sub-index rose 0.98%.
** Chinese H-shares listed in Hong Kong fell 0.03% to 10,403.77, while the Hang Seng Index was down 0.11% at 26,464.95. ** The smaller Shenzhen index was up 0.38% and the start-up board ChiNext Composite index was higher by 0.75%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.16%, while Japan's Nikkei index was down 0.09%.
** The largest percentage gainers in the main Shanghai Composite index were Jiangsu Etern Co Ltd, up 10.11%, followed by Nanning Department Store Co Ltd, gaining 10.05% and Zhejiang Sunriver Culture Co Ltd, up by 10.04%. ** The biggest percentage losers in the Shanghai index were Shanghai Chuangli Group Co Ltd, down 7.22%, tour nam ninh followed by Lanzhou Minbai Shareholding Group Co Ltd, losing 5.21% and Jiangsu Zijin Rural Commercial Bank Co Ltd , down by 4.93%.
(Reporting by Shanghai Newsroom; Editing by Shounak Dasgupta)
