Chinese stocks fall in cautious trade; alcohol, chipmakers collapse

SHANGHAI, Dec.29 (Reuters) – Chinese stocks fell on Wednesday as consumer staples, chipmakers collapsed amid cautious trade in the last week of the year, while The lockdown of Xian city to curb the spread of COVID-19 continued for the seventh day, weighing on sentiment.

** The CSI300 index (.CSI300) fell 1.3% to 4,891.73 points at the end of the morning session, while the Shanghai Composite index (.SSEC) lost 0.8%, to 3,601.54 points.

** The Hang Seng Index (.HSI) fell 0.9% to 23,075.79 points. The Hong Kong China Enterprises Index (.HSCE) lost 1.1% to 8,104.65.

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** Consumer Staples (.CSICS) fell 3.1%, liquor makers (.CSI399997) fell 4.5%.

** Analysts expect alcohol sales to enter peak season with the upcoming New Years and Spring Festival holidays, which will benefit related stocks.

** Semiconductors (.CSIH30184) and electronics (.CSI930652) lost 1.8% and 1.7% respectively.

** A lockdown of 13 million people in the Chinese city of Xian entered its seventh day on Wednesday as new COVID-19 infections persisted. Read more

** Central China Securities analysts said market participants are holding money and are waiting for the end of the year.

** Against the trend, the values ​​of tourism (.CSI930633) and transport (.CSI000957) gained 0.8% and 1.6% respectively, as the end of year holidays approach. Meanwhile, defense stocks (.CSI399959) rose 1.4%.

** The central bank of China will grant by the end of the month a first batch of low-cost loans to financial institutions to enable carbon emission reductions, central bank governor Yi Gang told the agency. of Xinhua State. Read more

** Tech giants and healthcare companies weighed on Hong Kong stocks.

** The Hang Seng Tech Index (.HSTECH) fell 1.5%, with Alibaba Group (9988.HK), Tencent Holdings (0700.HK) and Meituan (3690.HK) down 1.5% and 2.6%.

** Healthcare stocks (.HSCIH) fell 2.4%, while consumer staples (.HSCICS) fell 1.7%.

** Hotpot chain Haidilao International Holdings (6862.HK) plunged 6.5%, the biggest percentage drop in the Hang Seng Index.

** Mainland real estate developers listed in Hong Kong (.HSMPI) fell 2.1%.

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Report from the Shanghai press room; Editing by Shounak Dasgupta

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