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China shares derail as U.S. move against HK dents sentiment

07/15/2020 | 12:50am EST

* SSEC -1.4%, CSI300 -1.0%, HSI -0.6%

* HK->Shanghai Connect daily quota used -1.8%, Shanghai->HK daily quota used 2.7%

* FTSE China A50 -0.8%

SHANGHAI, July 15 (Reuters) - China and Hong Kong shares fell on Wednesday on deepening worries about Sino-U.S. decoupling after President Trump signed a bill that would penalize banks doing business with Chinese officials who implement the new security law. ** At the midday break, the Shanghai Composite index was down 1.39% at 3,367.21 points, erasing earlier gains. ** China's blue-chip CSI300 index was down 1.04%, with its financial sector sub-index dropping 1.79%, the consumer staples sector up 0.55%, the real estate index down 2.15% and the healthcare sub-index up 2.1%. ** Chinese H-shares listed in Hong Kong fell 0.69% to 10,333.46, while the Hang Seng Index was down 0.55% at 25,337.34, after opening higher at 1.6%. ** U.S. president Donald Trump on Tuesday ordered an end to Hong Kong's special status under U.S. law to punish China for what he called "oppressive actions" against the former British colony, and signed a bill approved by the U.S. Congress to penalize banks doing business with Chinese officials who implement the new security law. ** China said on Wednesday it will impose retaliatory sanctions on U.S. individuals and entities after Trump's move. ** The sanction threats over Hong Kong would dent short-term sentiment and cast shadow on funding flows of the city, said Zhang Qi, analyst with Haitong Securities, adding that the latest bill reinforced the idea that frictions between China and U.S. has become normalized. ** The smaller Shenzhen index was down 1.77% and the start-up board ChiNext Composite index was weaker by 1.34%. ** Around the region, MSCI's Asia ex-Japan stock index firmed up by 0.29%, while Japan's Nikkei index advanced 1.28%. ** The yuan was quoted at 7.0024 per U.S. dollar, 0.07% firmer than the previous close of 7.0075. (Reporting by Cheng Leng, Luoyan Liu and Andrew Galbraith, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AAC TECHNOLOGIES HOLDINGS INC. -2.68% 43.55 End-of-day quote.0.35%
CHINA RESOURCES BEER (HOLDINGS) COMPANY LIMITED -2.22% 68.2 End-of-day quote.-4.48%
GEELY AUTOMOBILE HOLDINGS LIMITED -4.88% 31.2 End-of-day quote.17.74%
HAITONG SECURITIES CO., LTD. 0.08% 12.84 End-of-day quote.-0.16%
HANG SENG 0.39% 28620.49 Real-time Quote.5.10%
HENAN YINGE INDUSTRIAL INVESTMENT CO.,LTD. 3.70% 0.28 End-of-day quote.0.00%
INNER MONGOLIA JUNZHENG ENERGY & CHEMICAL GROUP CO.,LTD. -1.80% 4.36 End-of-day quote.-11.92%
JIANGSU LUGANG CULTURE CO., LTD. -0.80% 2.49 End-of-day quote.-10.43%
MSCI AC ASIA EX JAPAN (STRD, UHD) -0.64% 891.357 Real-time Quote.6.43%
NIKKEI 225 -0.62% 28519.18 Real-time Quote.3.92%
QIAN JIANG WATER RESOURCES DEVELOPMENT CO;LTD 0.51% 9.83 End-of-day quote.-3.25%
S&P/CITIC 300 INDEX 0.00% 4815.57 Delayed Quote.4.84%
S&P/CITIC 50 INDEX 0.00% 4871.64 Delayed Quote.4.45%
SHANGHAI CHLOR-ALKALI CHEMICAL CO., LTD. -0.43% 6.99 End-of-day quote.-4.38%
SHENZHEN STOCK EXCHANGE A SHARE INDEX 0.30% 2477.41 Real-time Quote.1.63%
SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED -0.41% 145.5 End-of-day quote.-4.28%
SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED -0.83% 190.6 End-of-day quote.12.32%
TECHTRONIC INDUSTRIES COMPANY LIMITED -2.05% 109.7 End-of-day quote.-0.81%
TEDERIC MACHINERY CO., LTD 2.49% 7.41 End-of-day quote.-9.74%
TENCENT HOLDINGS LIMITED 2.46% 645 End-of-day quote.14.36%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.472 Delayed Quote.-0.48%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.00% 6.48 Delayed Quote.-0.78%
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