* SSEC +0.55%, CSI300 -0.28%, HSI +0.08%
* Consumer, health care and tech firms lead falls
* China steps up regulation on entertainment sector
SHANGHAI, Sept 2 (Reuters) - China blue-chip shares fell on Thursday, weighed down by health care, tech and consumer firms but Shanghai’s benchmark index rose as investors hoped soft economic data could lead Beijing to roll out further support measures. ** At the midday break, China’s blue-chip CSI300 index was down 0.28% and the Shanghai Composite index was up 0.55% at 3,586.65 points. ** Chinese H-shares listed in Hong Kong rose 0.55% to 9,322.33, while the Hang Seng index was up 0.08% at 26,047.95. ** China is likely to accelerate fiscal spending and credit growth as its economic recovery slows, but investors are expecting any easing measures from Beijing to be finely targeted as the U.S. Federal Reserve prepares to taper its own stimulus. ** The consumer staples sector fell 1.24%, the healthcare sub-index dropped 2.68% and information technology firms slipped 1.56%. ** An entertainment sub-index slipped 0.15% as China expanded a crackdown on its entertainment industry on Thursday, telling broadcasters to bar artists with “incorrect political positions” and effeminate styles from shows, and said a “patriotic atmosphere” needed to be cultivated. ** China’s regulatory crackdown is being waged to build a prosperous market economy and criticism from the United States and the West that it is taking “a backward step” are smears, state-backed newspaper the Global Times said on Tuesday. ** The smaller Shenzhen index was up 0.23%, the start-up board ChiNext Composite index was weaker by 1.21% and Shanghai’s tech-focused STAR50 index was down 1.33%. ** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.12%, while Japan’s Nikkei index was up 0.32%. ** The yuan was quoted at 6.4624 per U.S. dollar, 0.03% weaker than the previous close of 6.4605. (Reporting by Shanghai Newsroom; Editing by Shounak Dasgupta)
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September 02, 2021 at 11:44AM
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China blue chips fall; easing hopes lend support - Reuters
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