January 30, 2018 / 7:25 AM / 25 days ago

China stocks extend fall as developers slump

* Shanghai stocks lower, blue-chip CSI300 index down

* Gains in Shanghai stocks led by China Sports Industry Group Co Ltd and losses by Shanghai Hongda Mining Co Ltd

* China’s A-shares are at a 27.37 percent premium over H-shares

SHANGHAI, Jan 30 (Reuters) - China stocks extended losses on Tuesday, led by real estate and banking firms, as investors pocketed gains after a selloff in Apple shares knocked Wall Street.

** At the close, the Shanghai Composite index was down 34.81 points, or 0.99 percent, at 3,488.19. ** The blue-chip CSI300 index was down 1.07 percent, with its financial sector sub-index lower by 1.67 percent, the consumer staples sector down 0.19 percent, the real estate index down 3.97 percent and healthcare sub-index down 0.02 percent. ** The smaller Shenzhen index ended down 0.53 percent and the start-up board ChiNext Composite index was weaker by 0.96 percent. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.31 percent while Japan’s Nikkei index closed down 1.43 percent. ** At 07:04 GMT, the yuan was quoted at 6.3355 per U.S. dollar, 0.17 percent firmer than the previous close of 6.346. ** The largest percentage gainers in the main Shanghai Composite index were China Sports Industry Group Co Ltd, up 10.04 percent, followed by Shanghai Join Buy Co Ltd gaining 10.03 percent and SJEC Corp up by 9.99 percent. ** The largest percentage losses in the Shanghai index were Shanghai Hongda Mining Co Ltd down 10.02 percent, followed by Fujian Furi Electronics Co Ltd losing 9.98 percent and CMST Development Co Ltd down by 9.97 percent. ** So far this year, the Shanghai stock index is up 6.53 percent, the CSI300 is up 5.6 percent this year, while China’s H-share index listed in Hong Kong is up 16.7 percent. ** About 18.64 billion shares were traded on the Shanghai exchange, roughly 96.2 percent of the market’s 30-day moving average of 19.38 billion shares a day. The volume in the previous trading session was 23.60 billion. ** As of 07:05 GMT, China’s A-shares were trading at a premium of 27.34 percent over the Hong Kong-listed H-shares. ** The Shanghai stock index is above its 50-day moving average and above its 200-day moving average. ** The price-to-earnings ratio of the Shanghai index was 16.03 as of the last full trading day while the dividend yield was 1.8 percent. ** So far this week, the market capitalisation of the Shanghai stock index has fallen by -0.99 percent to 31.00 trillion yuan. (Reporting by Shanghai Newsroom; Editing by Sam Holmes)

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