Energy stocks boost Shanghai shares, consumer firms weigh on blue chips

  • 12/15/2021
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China"s main Shanghai stock index edged higher on Thursday but consumer firms weighed on blue chips amid concerns over a resurgence in COVID-19 cases, while weakness in Chinese tech firms dragged Hong Kong"s Hang Seng lower. ** At the midday break, the Shanghai Composite index (.SSEC) was up 0.28% at 3,657.85, with energy firms providing support. * China"s blue-chip CSI300 index (.CSI300) was down 0.07%, with a 4.69% gain in energy shares (.CSI000908) offset by losses in sectors such as consumer staples (.CSI000912), down 1.92% and non-ferrous metals (.CSIH11059), down 2.35%. ** An index tracking the coal sector (.CSI000820) surged 6.34% amid a government crackdown on illegal mining that has lifted prices. read more ** Chinese H-shares listed in Hong Kong (.HSCE) fell 1.11% to 8,250.55, while the Hang Seng Index (.HSI) was down 0.81% at 23,231.48. ** The three biggest H-shares percentage decliners were JD.Com Inc (9618.HK), down 4.88%, Shenzhou International Group Holdings Ltd (2313.HK), trading 4.26% lower, and Meituan (3690.HK), dropping 4.14%. ** The sub-index of the Hang Seng index tracking the IT sector (.HSCIIT) fell 2.1%. ** The smaller Shenzhen index (.SZSC) was up 0.06%, the start-up board ChiNext Composite index (.CNT) was higher by 0.3% and Shanghai"s tech-focused STAR50 index (.STAR50) was down 0.22%​. ** A-shares of Chinese companies that were reported on Wednesday to be on the verge of being added to U.S. investment and export blacklists rose. ** China"s Leon Technology Co (300603.SZ) finished the morning session up 6.5%, after the company downplayed a report it would be added to the investment blacklist. read more ** But Semiconductor Manufacturing International Corp (SMIC) (0981.HK) ended the morning down 3.42% in Hong Kong. ** Around the region, MSCI"s Asia ex-Japan stock index (.MIAPJ0000PUS) was weaker by 0.10% while Japan"s Nikkei index (.N225) was up 1.87%. ** The yuan was quoted at 6.3672 per U.S. dollar, 0.01% firmer than the previous close of 6.368. Reporting by Andrew Galbraith; Editing by Rashmi Aich Our Standards: The Thomson Reuters Trust Principles.

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