China stocks mixed at midday as mainland banks decline

miércoles 12 de noviembre de 2014 01:00 GYT
 

* CSI300 -0.1 pct, SSEC -0.3 pct, HSI +0.1, HSCE +0.1 pct

* Investors take profits in banking shares

* Analysts see more capital flow into mainland market

SHANGHAI, Nov 12 (Reuters) - China stocks were mixed on Wednesday, dragged down by weak mainland banking shares as investors took profits after a big rally on Tuesday, but Hong Kong indexes edged up on continuing strength in offshore-listed Chinese financials.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 3.10 points, or 0.12 percent, to 2,555.51 at the end of the morning session, while the Shanghai Composite Index lost 7.51 points, or 0.3 percent, to 2,462.16.

The move continues a correction that began on mainland exchanges at midday Tuesday, which saw indexes reverse morning gains as investors bailed out of small-cap shares, setting record high trading volumes.

The Hang Seng index added 15.88 points, or nearly 0.1 percent, to 23,824.16, while the Hong Kong China Enterprises Index gained 0.23 percent to 10,676.76.

Shares in all 16 banks listed on the mainland fell. Index heavyweight the Bank of China Ltd slumped 3.8 percent after it hit 10 percent daily limit up on Tuesday. The Industrial and Commercial Bank of China Ltd fell 1.3 percent.

"It's quite normal for investors to take profits from previous gains," said Cai Dagui, analyst at Pingan Securities.   Continuación...