China, Hong Kong shares rise, unruffled by slower Chinese GDP growth

miércoles 16 de abril de 2014 01:02 GYT
 

* HSI +0.6 pct, H-shares +0.5 pct, CSI300 +0.3 pct

* China Q1 growth at lowest in 18 months within expectations

* Mainland securities firms see upswing

BEIJING, April 16 (Reuters) - Chinese and Hong Kong investors shrugged off China's first quarter growth that was the slowest in 18 months, leaving all major indices in positive territory on Wednesday.

On the mainland some of the strongest gains came from a rebound in securities firms, a sector that has proved volatile after last week's announcement that China and Hong Kong investors can buy certain stocks listed on each other's bourses.

By midday, the Hang Seng Index was up 0.6 percent at 22,813.92 points. The China Enterprises Index of the top Chinese listings in Hong Kong gained 0.5 percent.

The CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 0.3 percent, while the Shanghai Composite Index was also up 0.3 percent at 2,107.06 points.

Official data showed China's economy grew 7.4 percent during the first three months of 2014, its slowest pace in 18 months, but not significantly lower than the 7.5 percent target top policy makers have set for annual GDP growth.

"The numbers are mostly in line with expectations, particularly with GDP, 7.4 percent is not too bad and is within the range Li Keqiang mentioned in Hainan," said Steven Leung, sales director at UOB Kay Hian in Hong Kong.   Continuación...