Property rebound lifts China shares off one-week low

jueves 6 de marzo de 2014 00:56 GYT
 

* HSI, H-shares +0.5 pct; CSI300 flat, Shanghai Comp -0.1 pct

* Comments at parliament meeting stoke growth worry

* Property A-shares up on hopes home-price falls will be limited

* Tencent hits record after China Unicom cooperation agreement

By Clement Tan

HONG KONG, March 6 (Reuters) - China shares fell to their lowest levels in a week early Thursday, then rebounded and boosted Hong Kong markets as property stocks gained on hopes steps will be taken to limit mainland home-price declines.

From now until March 13, mainland markets could be affected by comments and policy announcements made at China's annual parliamentary meetings, which started on Wednesday.

On Thursday morning, for example, comments from the country's finance minister stoked worries that lower growth rates than the stated 7.5 percent target for 2014 would be tolerated. That briefly accelerated losses in growth-sensitive sectors other than property.

"People are talking a lot whether we will actually achieve the target growth rate, given Beijing's determination to reform, tighter liquidity and lower fixed asset investment," said Cao Xuefeng, a Chengdu-based analyst with Huaxi Securities.   Continuación...