March 13, 2019 / 4:44 AM / 3 months ago

China, HK stocks drop on Brexit vote, trade deal caution

* SSEC -0.4 pct, CSI300 -0.5 pct, HSI -0.6 pct

* HK->Shanghai Connect daily quota used -1.1 pct, Shanghai->HK daily quota used 1 pct

* FTSE China A50 -0.2 pct, BNY Mellon ADR China Select Index -0.1 pct

SHANGHAI, March 13 (Reuters) - China and Hong Kong stocks dropped on Wednesday, as caution kicked in ahead of yet another make-or-break parliamentary vote on Brexit, and while markets awaited more news on the progress of Sino-U.S. trade negotiations.

** The CSI300 index dropped 0.5 percent to 3,734.98 points at the end of the morning session, while the Shanghai Composite Index lost 0.4 percent to 3,049.01 points. ** The Hang Seng index slipped 0.6 percent to 28,752.11 points, while the Hong Kong China Enterprises Index lost 0.6 percent to 11,397.81. ** Risk appetites had soured after British lawmakers crushed Prime Minister Theresa May’s European Union divorce deal, forcing parliament to decide within days whether to back a no-deal Brexit or seek a last-minute delay. ** Investors were also waiting for developments on the Sino-U.S. trade talks. ** The United States and China may be in the final weeks of discussions to hammer out a deal to ease their tit-for-tat tariffs dispute, U.S. Trade Representative Robert Lighthizer said on Tuesday. ** China’s top statistics official on Tuesday sought to allay concerns over the health of the world’s second-largest economy, and defended the integrity of its data. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.46 percent while Japan’s Nikkei index was down 1.28 percent. ** The yuan was quoted at 6.7099 per U.S. dollar, percent weaker than the previous close of 6.7098. ** The largest percentage gainers in the main Shanghai Composite index were Hubei Chutian Smart Communication Co Ltd, which rose as much as 10.13 percent, followed by Zhejiang Hugeleaf Co Ltd, which gained up to 10.12 percent and Beijing Airport High-Tech Park Co Ltd, which rose as much as 10.06 percent. ** The largest percentage losses in the Shanghai index were Eastern Communications Co Ltd, which lost as much as 8.05 percent, followed by DELIXI XINJIANG Transportation Co Ltd , which slipped 7.67 percent and Hefei Metalforming Intelligent Manufacturing Co Ltd, which fell 7.19 percent. ** So far this year, the Shanghai stock index is up 22.71 percent, while China’s H-share index is up 13.2 percent. Shanghai stocks have risen 4.06 percent this month. ** The top gainers among H-shares were PICC Property and Casualty Co Ltd, up 1.87 percent, followed by Ping An Insurance Group Co of China Ltd, gaining 1.45 percent and China Tower Corp Ltd, up by 0.54 percent. ** The three biggest H-shares percentage decliners were Hengan International Group Company Ltd, which has fallen 3.85 percent, SINOPHARM GROUP CO LTD, which has lost 2.9 percent and Great Wall Motor Co Ltd, down by 2.7 percent. ** About 26.25 billion shares have traded so far on the Shanghai exchange, roughly 83.8 percent of the market’s 30-day moving average of 31.31 billion shares a day. The volume traded was 51.12 billion as of the last full trading day. ** As of 0421 GMT, China’s A-shares were trading at a premium of 22.26 percent over the Hong Kong-listed H-shares.

Reporting by Luoyan Liu and John Ruwitch, Editing by Sherry Jacob-Phillips

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