(Refiling to correct spelling in the 1st paragraph)
* CSI300 +2.2 pct, SSEC +1.4 percent, HSI +0.4 pct, HSCE + 1.8 pct
* Analysts see resistance at 3,000 for SSEC index
* Brokerages extend gains, defence shares rise
* Hong Kong heartened by US employment data
SHANGHAI, Dec 8 (Reuters) - China stocks rose on Monday, shrugging off weak trade data and extending a policy-fuelled rally that has repeatedly set records for turnover.
Exports slowed more dramatically than expected in November, a setback that supported arguments that September and October figures had been distorted upwards by speculation, as investors smuggled money onshore through manipulated trade invoices ahead of the Shanghai-Hong Kong Stock Connect pilot’s launch.
Imports unexpectedly contracted, fueling concerns the world’s second-largest economy could be facing a sharper slowdown and adding pressure on policymakers to roll out more stimulus measures.
The CSI300 index rose 2.2 percent, to 3,194.40 points at the end of the morning session, while the Shanghai Composite Index gained 1.4 percent to 2,979.31 points.
Some analysts anticipate the Shanghai Composite would face strong resistance as it closes in on 3,000 points.
“Some profit-taking pressure will probably surface before the breaching of 3,000 points,” said Du Changchun, analyst at Northeast Securities in Shanghai.
Still, there’s little caution in the futures market at present, with CSI300 futures <0#CIF:> now predicting the index will continue to rise to reach 3,273 by June 5. Its current level is 3,194.
Military-related shares posted solid gains after mainland media reported that President Xi Jinping urged faster development of advanced new military equipment to help build a strong army.
The brokerage sector remained strong. Hong Yuan Securities Co Ltd, CITIC Securities Co Ltd, Southwest Securities Co Ltd, and Haitong Securities Co Ltd all climbed by the 10 percent daily limit.
The Hang Seng index added 0.4 percent, to 24,087.96 points, while the Hong Kong China Enterprises Index gained 1.8 percent, to 11,805.13.
Analysts said Hong Kong was heartened by positive employment data in the U.S., but China shares continued to outperform in light of the onshore rally.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 114.97.
A value above 100 indicates Shanghai shares are priced at a premium to those of the same company trading in Hong Kong.
Volume remained extremely high. A total of 32.05 billion A shares were traded in Shanghai, while Shenzhen volume was 14.57 billion shares. On Friday, the exchanges set another record for single-day trading.
Total trading volume of companies included in the HSI index was 1.7 billion shares. (Reporting by Pete Sweeney and the Shanghai Newsroom; Editing by Richard Borsuk)