* SSEC -0.45%, CSI300 -0.84%, HSI -0.21%
* Commodity sector up; China measures seen to have fleeting
* Tencent weighs on Hang Seng after Q1 results
SHANGHAI, May 21 (Reuters) - China shares fell on Friday
dragged down by financials and consumer firms, while a sharp
drop in gaming and social media giant Tencent Holdings Ltd
despite a forecast-beating profit jump weighed on the Hong
Kong's benchmark index.
** At the midday break, the Shanghai Composite index was
down 0.45% at 3,491.04.
** China's blue-chip CSI300 index was down 0.84%, with
its financial sector sub-index leading losses,
** The consumer staples sector shed 1.04%, the real
estate index lost 0.43% and the healthcare
sub-index fell 0.73%.
** But commodities firms rebounded as analysts said China's
pledge to strengthen management to curb "unreasonable" increases
in commodity prices are likely to have only a temporary effect.
** The CSI300 energy index added 0.88% and the CSI
A-share resource industries index rose 0.92%.
** Chinese H-shares listed in Hong Kong rose 0.42% to
10,687.89, while the Hang Seng Index was down 0.21% at
** The Hang Seng was hit by a 3.86% drop in index heavyweight
Tencent Holdings Ltd despite a 65% surge in
first-quarter profit, beating forecasts.
** Crypto-related shares in Hong Kong slumped after U.S. Federal
Reserve chief Jerome Powell said cryptocurrencies pose risks to
financial stability and indicated that greater regulation may be
** Okg Technology Holdings Ltd, an affiliate of crypto
exchange OK Coin, fell 4.26% and Huobi Tech, an
affiliate of crypto exchange operator Huobi, lost 1.23%
** But following a regulatory announcement of a tougher ban by
Beijing on crypto-related services by financial companies,
market players in China said it was business as usual in the
** The smaller Shenzhen index was down 0.2%, the
start-up board ChiNext Composite index was weaker by
0.57% and Shanghai's tech-focused STAR50 index was
** The yuan was quoted at 6.4342 per U.S. dollar,
0.02% firmer than the previous close of 6.4355.
(Reporting by Andrew Galbraith; Editing by Rashmi Aich)