SHANGHAI, Sept 3 (Reuters) - China stocks ended lower on
Thursday, as investors pulled out of high-flying consumer firms
on worries over lofty valuations, while Sino-U.S. tensions also
dented sentiment, outweighing optimism stemming from upbeat
services sector data.
** The blue-chip CSI300 index fell 0.6%, to
4,817.10, while the Shanghai Composite Index eased
** The tech-heavy start-up board ChiNext slipped
0.9%, while the STAR50 index dropped 1.5%.
** Selling intensified in the afternoon, as investors
retreated from leading consumers firms following stellar gains
in recent weeks.
** The CSI300 consumers staples index ended
down 0.4%, with bellwether Foshan Haitian Flavouring
slumping 6.5% after hitting an all-time high in morning trade.
** The CSI300 healthcare index shed 0.6%, with
Zhangzhou Pientzehuang Pharmaceutical pulling back
from a record high to close 2.5% lower.
** "We had been strongly recommending consumer firms
including liquor makers and flavouring firms for quite a long
time, though we now no longer sing a song of praise to
record-breaking consumer players," analysts at China Galaxy
Securities said in report.
** The United States said on Wednesday it would now require
senior Chinese diplomats to get State Department approval before
visiting U.S. university campuses or holding cultural events
with more than 50 people outside mission grounds.
** The recovery in China's service sector activity extended
into a fourth straight month in August, an industry survey
showed, with companies hiring more people for the first time
** The services sector, which accounts for about 60% of the
economy and half of urban jobs, had been slower to return to
growth initially than large manufacturers, but the recovery has
gathered pace in recent months as coronavirus curbs eased.
(Reporting by Luoyan Liu and Brenda Goh; Editing by Shailesh