China stocks fall, some see market stalling

miércoles 24 de diciembre de 2014 00:50 GYT
 

* CSI -2.3 pct, SSEC -1.9 pct

* HSI +0.1 pct, HSCE -1.0 pct

* CSI300 futures slide for 3rd day

* Hong Kong market shuts, to reopen Monday

SHANGHAI, Dec 24 (Reuters) - China stock indexes fell on Wednesday, with signs emerging in futures contracts that what analysts originally saw as a profit-taking blip earlier in the week for mainland stocks may be gaining traction.

The Hong Kong market, which closed at midday Wednesday and won't reopen until Monday, edged up.

China CSI300 stock index futures for January fell 3.3 percent, to 3,257, a spread of 9.9 points above the current value of the underlying index, the third straight day of declines. All other futures contracts for that index declined by similar margins.

The CSI300 index fell 2.3 percent, to 3,247.14 points at the end of the morning session, while the Shanghai Composite Index lost 1.9 percent, to 2,975.64 points, dropping below 3,000 - considered a sentiment support level - for the first time since Dec. 17.

Analysts were divided as to the reason for the retreat, with some pointing to nervousness over signs regulators are cracking down on excessive margin financing and pricing manipulation as the cause for the stall.   Continuación...