SHANGHAI, Oct 13 (Reuters) - China stocks were a mixed bag
on Wednesday, with coal miners falling and consumer stocks
gaining, as Evergrande's woes and a domestic power crunch
continue to haunt the market.
** Better-than-expected domestic trade data helped offset
concerns of slowing growth after the International Monetary Fund
(IMF) trimmed China's 2021 growth forecast by 0.1 point, citing
a faster-than-expected scaleback of public investment spending.
** China's blue-chip CSI300 Index rose 0.3% in
morning trade, but the Shanghai Composite Index fell
** Hong Kong markets were suspended from trading due to a
** The CSI300 Real Estate Index dropped 1.6%
amid signs Evergrande's debt crisis is rippling through the
industry, hitting more Chinese developers.
** "Evergrande's debt issue has put China's property sector
in the spotlight again," said Zhang Xiaodong, fund manager of
Schroders' Shanghai asset management subsidiary.
** "China's power shortage is also in focus, and is dealing
a blow to the market," Zhang said, predicting short-term
** China's coal subindex tumbled roughly 7% to
its lowest level in six weeks on signs the government is taking
measures to boost supply, potentially cooling prices.
** Hengyuan Coal, Tianan Coal and
Huolinhe Coal plunged 10%, the most allowed within a
** Coal shares, which had jumped on record prices of the
fuel, is down roughly 20% from its Sept. 6 peak.
** China's energy index also plunged, down nearly 6% by
midday. Oil giant PetroChina dropped 5.2%.
** However, consumer-related stocks gained 1.6%.
** An index tracking food & beverage stocks
jumped 2.8%. Top spirit maker and index heavyweight Kweichow
Moutai Co rose 3% to touch a two-and-a-half-month
(Reporting by Shanghai Newsroom; Editing by Amy Caren Daniel)