China stocks flat on report US could ban another tech firm; Hong Kong up
Wednesday, May 22, 2019       13:40 WIB

May 22, 2019 / 11:42 AM
* SSEC flat, CSI300 0.1%, HSI 0.2%
* HK->Shanghai Connect daily quota used -0.9%, Shanghai->HK daily quota used 2.5%
* FTSE China A50 -0.1%
SHANGHAI (Reuters) - China's major stock indexes were roughly flat on Wednesday morning, as caution prevailed after a report that the United States could blacklist another Chinese tech firm.
The CSI300 index rose 0.1%, to 3,668.58 points, at the end of the morning session, while the Shanghai Composite Index was unchanged at 2,905.40 points.
The U.S. administration is considering limits to Chinese video surveillance firm Hikvision's ability to buy U.S. technology, the New York Times reported on Tuesday, in a move that deepens worries about trade frictions between the world's two top economies.
That came after the U.S. Commerce Department blocked Huawei Technologies Co Ltd from buying U.S. goods last week.
Shares in state-owned Hikvision plummeted as much as 10% to their lowest since Jan. 4, 2018 after the report.
The CSI information technology index, of which Hikvision is a constituent, was flat by the lunch break.
Beijing is ready to resume trade talks with Washington, China's ambassador to the United States Cui Tiankai said, as a top U.S. business lobby in China said nearly half its members are seeing non-tariff barrier retaliation in China due to the trade war.
In Hong Kong, the Hang Seng index added 0.3%, to 27,739.95 points, while the Hong Kong China Enterprises Index gained 0.1%, to 10,647.51.
Around the region, MSCI 's Asia ex-Japan stock index was firmer by 0.17%, while Japan's Nikkei index was up 0.21%.
The yuan was quoted at 6.9095 per U.S. dollar, 0.1% weaker than the previous close of 6.9028.
The largest percentage gainers in the main Shanghai Composite index were NINGBO Co Ltd, up 10.05%, followed by Shanghai Wondertek Software Co Ltd, gaining 10.02%, and Hunan Copote Science Technology Co Ltd , up by 10.01%.
The largest percentage losers in the Shanghai index were Elion Energy Co Ltd, down 10.01%, followed by ZHEJIANG DIBAY ELECTRIC Co Ltd, losing 9.98%, and Yuancheng Environment Co Ltd, down by 5.94%.
So far this year, the Shanghai stock index is up 16.52%, while China's H-share index is up 5.0%. Shanghai stocks have declined 5.6% this month.
The top gainers among H-shares were China Tower Corp Ltd , up 2.82%, followed by Air China Ltd, gaining 2.77%, and Huatai Securities Co Ltd, up by 2.1%.
The three biggest H-shares percentage decliners were Shenzhou International Group Holdings Ltd, which has fallen 2.59%, CRRC Corp Ltd, which has lost 1.5% and China Cinda Asset Management Co Ltd, down by 1.0%.
As of 04:22 GMT, China's A-shares were trading at a premium of 24.20% over the Hong Kong-listed H-shares.

Sumber : Reuters

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