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China shares fall as growth concerns linger

Aug 19 (Reuters) - China shares ended lower on Thursday, dragged by consumer staples and financial stocks, as a gloomy economic outlook soured investor sentiment.

The blue-chip CSI300 index fell 0.7% to 4,862.14, while the Shanghai Composite Index lost 0.6% to 3,465.55 points.

** Resource-related stocks declined, with the sub-index losing 0.8%. The energy sub-index fell 2.1% and the coal sub-index declined 2.2%.

** Financial stocks retreated after posting gains in the previous session, with banks and brokerage sub-indexes down 2.1% and 1.8%, respectively.

** A sub-index tracking consumer staples lost 1.5%.

** Earlier this week, data showed China’s factory output and retail sales growth slowed sharply in July as new COVID-19 outbreaks and floods disrupted business operations, adding to signs the economic recovery is losing momentum.

** The semiconductor sub-index rose 2.1%, and the tech-heavy STAR market finished up 2.5%.

** An index tracking new energy vehicles gained 3.5%, after top Chinese electric-vehicle battery maker CATL signed an agreement to set up a production base in Shanghai.

** CATL rose 1.6%, while lithium companies Tianqi Lithium Corp and Ganfeng Lithium Co Ltd surged 10.0% and 6.3%, respectively.

** The defence sub-index extended gains amid rising geo-political tensions and was up 0.9%. (Reporting by Shanghai Newsroom; Editing by Ramakrishnan M.)

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