Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

China shares muted; investors worry about Beijing's crackdown

08/05/2021 | 01:00am EST

SHANGHAI, Aug 5 (Reuters) - China shares were subdued on Thursday, though investors took cues from state media reports to dump online gaming companies, fertilizer producers and spirit makers as they worried these sectors could be the next target of a government crackdown.

** Hong Kong stocks fell, dragged by tech and real estate stocks.

** China's blue-chip CSI300 index fell 0.1% to 4,976.61 at the end of the morning session, while the Shanghai Composite Index gained 0.1% to 3,480.39.

** In Hong Kong, the Hang Seng index dropped 0.2% to 26,374.56, while the Hong Kong China Enterprises Index lost 0.5% to 9,374.24.

** Online gaming stocks in both China and Hong Kong, which slumped on Tuesday after a state media report labelling the industry "spiritual opium", resumed slides on Thursday, as official Securities Times called for healthy development of the sector.

** Tencent Holdings — China's largest social media and video game firm — fell 1.7%. Rivals NetEase Inc, XD Inc and Perfect World all dropped.

** Chinese vaping firms, including Huabao International Holdings Ltd and China Boton Group Co Ltd, slid after state media reported many minors are able to purchase e-cigarettes in the country despite a ban on sales to under-18s.

** Investors scrambled to exit chemicals makers such as Luxi Chemicals Group and Yunnan Yuntianhua Co on news that China is probing into chemical fertilizer companies over price gouging.

** Growth hormone stocks, including Changchun High & New Technology Industries and Anhui Anke Biotechnology (Group) Co tumbled, after state media issued a new warning that such products do damage to people's health.

** Investors also dumped spirit makers, including Kweichow Moutai Co and Luzhou Laojiao Co, as they were spooked by an article on the Ministry of Science & Technology's website that linked alcohol with some types of cancers. (Reporting by Shanghai newsroom; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANHUI ANKE BIOTECHNOLOGY (GROUP) CO., LTD. 0.96% 12.6 End-of-day quote.3.00%
CHANGCHUN HIGH & NEW TECHNOLOGY INDUSTRY (GROUP) INC. 4.62% 287.8 End-of-day quote.-35.89%
CHINA BOTON GROUP COMPANY LIMITED 3.64% 4.55 End-of-day quote.167.65%
HUABAO INTERNATIONAL HOLDINGS LIMITED 1.25% 20.3 End-of-day quote.90.07%
KWEICHOW MOUTAI CO., LTD. 4.45% 2043 End-of-day quote.2.25%
LUXI CHEMICAL GROUP CO., LTD. -0.25% 15.93 End-of-day quote.24.65%
LUZHOU LAOJIAO CO.,LTD. 2.60% 252.87 End-of-day quote.11.81%
NETEASE, INC. -1.46% 105.77 Delayed Quote.10.44%
PERFECT WORLD CO., LTD. 9.98% 20.93 End-of-day quote.-29.05%
TENCENT HOLDINGS LIMITED 0.69% 467 End-of-day quote.-17.20%
XD INC. 1.19% 46.9 End-of-day quote.0.11%
YUNNAN YUNTIANHUA CO., LTD. 1.27% 23.13 End-of-day quote.281.05%
Latest news "Economy & Forex"
05:44pInstagram aims to launch chronological feed option in 2022
RE
05:43pInstagram working on chronological feed for 2022 -CEO
RE
05:42pAustralian regulator sues ANZ for failing to provide benefits to half a million customers
RE
05:41pJudge to review New York City vaccine mandate for public sector
RE
05:35pDogecoin Gained 0.81% to $0.180 at 5 p.m. ET -- Data Talk
DJ
05:35pEthereum Gained 2.94% to $4418.54 at 5 p.m. ET -- Data Talk
DJ
05:35pBitcoin Gained 0.27% to $50633.74 at 5 p.m. ET -- Data Talk
DJ
05:35pExclusive-Canada's CPP Investments seeks to sell insurance groups in strategy U-turn -sources
RE
05:34pThe WSJ Dollar Index Falls 0.31% to 89.86 -- Data Talk
DJ
05:34pEuro Gains 0.67% to $1.1344 -- Data Talk
DJ
Latest news "Economy & Forex"