China stocks down, dragged by cyclical shares; HK shares up

China stocks slipped on Tuesday, dragged by cyclical shares such as metals, while technology companies boosted Hong Kong shares.

Non-ferrous metals companies 0000811 led the declines in China, sliding 3.4%, while coal-related stocks (.CSI000820) dropped 1.3%.

UBS strategists upgraded MSCI China equities to "overweight" as the index has a higher weight in consumption where they see early signs of improvement and was little affected by the weak property sector.

** China's main Shanghai stock market 000001 fell, while Hong Kong's Hang Seng Index (.HIS) was up.

** At the midday break, the Shanghai Composite index 000001 was down 0.41% at 3,032.13 points.

** China's blue-chip CSI300 index 3399300 was down 0.56%, with its financial sector sub-index 3399914 higher by 0.57%, the consumer staples sector 0000912 up 0.81%, the real estate index 000952 down 0.79% and the healthcare sub-index 399913 down 0.55%.

** Chinese H-shares listed in Hong Kong HSCEI rose 1.85% to 5,939.12, while the Hang Seng Index (.HIS) was up 1.64% at 16,782.71.

** The smaller Shenzhen index 399106 was down 0.27%, the start-up board ChiNext Composite index 3399006 was weaker by 0.31% and Shanghai's tech-focused STAR50 index (.STAR50) was down 0.78%​.

** Around the region, MSCI's Asia ex-Japan stock index (.MIAPJ0000PUS) was firmer by 0.91% while Japan's Nikkei index NI225 was up 0.32%.

** The yuan USDCNY was quoted at 7.2447 per U.S. dollar, 0.01% weaker than the previous close of 7.244.

** The largest percentage gainers on the main Shanghai Composite index were Wuhan Xingtu Xinke Electronics 688081, jumping 20.04%, followed by roughly 10% gains in Jiangsu Yabang Dyestuff 603188 and Star Lake Bioscience Co Inc Zhaoqing Guangdong 600866.

** The largest percentage losses were Shanxi Lanhua Sci-Tech Venture 600123, Wingtech Technology 600745 and Guangxi Huaxi Nonferrous Metal 600301, each of which slid about 10%.