* SSEC -0.5%, CSI300 -1%, flat HSI
* HK-> Shanghai Connect daily quota used 5.3%, Shanghai daily quota-> HK used 10.1%
* FTSE China A50 -0.1%
SHANGHAI, Jan. 15 (Reuters) – Shares fell in China on Friday, on track to capture four consecutive weekly gains, as consumer and alcohol stocks rebound on concerns over high valuations , while Sino-US tensions also weighed on market sentiment.
** The CSI300 index fell 1% to 5,418.13 by the end of the morning session, while the Shanghai Composite Index lost 0.5% to 3,546.96.
** For the week, CSI300 lost 1.4% and SSEC slipped 0.6%.
** Leading the fall on Friday, the CSI300 consumer staples index fell 3.7% and the CSI alcohol index fell 5.6%.
** China Fortune Securities said in a report that market participants would need time and earnings from some major companies to erode their high valuations, noting that the overall price-to-earnings ratio of alcohol producers have doubled to 66 since the end of 2010.
** The Trump administration in its turbulent days took another swipe at China and its largest companies on Thursday, imposing sanctions on officials and companies for abusive allegations in the South China Sea and banning investment nine additional companies.
** Descending the general weakness, Chinese banking shares launched a strong rally on Friday, as more banks forecast earnings earnings for 2020 despite the coronavirus revolution.
** Net profits of China’s registered banks are expected to grow 43.8% y / y in the fourth quarter of 2020, helping net profit for the year-round yield to positive growth, CICC investment bank said in a report, contribute to major employment development. it would be a collection tool for collection in banking sectors.
** In Hong Kong, the Hang Seng index remained unchanged at 28,496.98, while the Hong Kong China Enterprises Index lost 0.1% to 11,287.27.
** Shares of Xiaomi Corp fell as much as 11.2% after the smartphone maker was included in Trump’s Chinese arms blacklist. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Subhranshu Sahu)