China stocks end lower as trade war cautions persist

Chinese stocks gave up ground on Thursday after two days of gains, as investor sentiment remained fragile following the latest volley of tariffs in the China-US trade friction.

At the close, the Shanghai Composite Index was down 0.06 percent at 2,729.24 points.

The blue-chip CSI300 index ended down 0.07 percent, with its financial sector sub-index closing 0.01 percent weaker, the consumer staples sector ending 0.08 percent higher, the real estate index closing down 0.43 percent and the healthcare sub-index ending 0.44 percent lower.

Meanwhile, the smaller Shenzhen Component Index ended down 0.17 percent and the start-up board ChiNext Composite Index slipped 0.34 percent.

The largest percentage gainers in the main Shanghai Composite Index were Ningbo Heli Mould Technology Co, which ended up 10.03 percent, followed by Guizhou Changzheng Tiancheng Holding Co, which closed 10.03 percent firmer, and Ningbo Tuopu Group Co, which ended 10.03 percent higher.

About 11.14 billion shares were traded on the Shanghai exchange, roughly 100.9 percent of the market’s 30-day moving average of 11.04 billion shares a day.

The volume in the previous trading session was 14.16 billion.

China plans to reduce the average tariff rate on imports from most of its trading partners as early as October, Bloomberg reported, as it seeks to limit the effects of the trade war with the US.