China's CSI300 index at near 9-mth low, Hong Kong sinks too

lunes 10 de marzo de 2014 00:45 GYT
 

* HSI -1.6 pct, H-shares -1.6 pct, CSI300 -1.9 pct

* Cyclicals lead selloff after weak China data stokes slowdown fears

* Jiangxi Copper H-share at 8-mth low, Cinda Asset Management up

* China Southern Air sinks on sliding yuan, Malaysia air accident

By Clement Tan

HONG KONG, March 10 (Reuters) - China's CSI300 index slid to its lowest in nearly nine months early Monday, weighing on Hong Kong markets, after data showed exports unexpectedly tumbled in February, reigniting some fears of a slowdown in the world's second-largest economy.

Data over the weekend also showed inflation remained benign, but some investors were more concerned that producer prices fell for the 24th consecutive month, as the lack of pricing power suggested China is still struggling with excess capacity.

At midday, the CSI300 of the largest Shanghai and Shenzhen A-share listings was down 1.9 percent at its lowest since June 25. The Shanghai Composite Index sank 1.7 percent.

The Hang Seng Index shed 1.6 percent to 22,294.9 points, its lowest since Feb. 26. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong also sank 1.6 percent to its lowest in a month.   Continuación...