China shares gain on urbanisation plans, Hong Kong falls to 5-week low

lunes 17 de marzo de 2014 01:06 GYT
 

* HSI -0.3 pct, H-shares +0.4 pct, CSI300 +0.4 pct

* China property firms make solid advances

* Hong Kong slips as uncertainty lingers

By Alice Woodhouse

HONG KONG, Mar 17 (Reuters) - Chinese shares edged higher on Monday, with property and construction sectors strong after Beijing announced plans to get more people to move into urban areas.

Hong Kong stocks extended losses and fell to a five-week low, tracking weakness in global markets on investor uncertainty over Chinese economic growth and diplomatic tensions over Crimea.

By midday, the Hang Seng Index was down 0.3 percent at 21,467.35 points, its lowest level since Feb. 6. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.4 percent.

The CSI300 of the largest Shanghai and Shenzhen A-share listings gained 0.4 percent, while the Shanghai Composite Index was up 0.5 percent at 2,013.83 points.

"We are expecting some kind of small policies or specific policies on urbanization or infrastructure, so that's why some of the traditional sectors such as cement, infrastructure, railways are outperforming the overall markets," said Jackson Wong, Tanrich Securities' vice-president for equity sales.   Continuación...