China shares fall, blue-chips take breather; HK extends gains

jueves 8 de enero de 2015 00:56 GYT

* SSEC -1.8 pct, CSI300 -2.0 pct, HSI +0.5 pct

* Profit-taking pushes blue chips lower in China

By Sue-Lin Wong

SHANGHAI, Jan 8 (Reuters) - China stocks tumbled by midday Thursday, heading for its biggest one-day percentage drop in over two weeks, as profit-taking hit blue chips such as financials which have enjoyed a strong run recently.

The CSI300 index fell 2.0 percent to 3,571.14 points at the end of the morning session, while the Shanghai Composite Index lost 1.8 percent to 3,314.75 points.

"The profit-taking is one factor why the market is falling today. Furthermore, the momentum for blue-chips seems to have weakened because of shrinking turnovers," said Du Changchun, an analyst at Northeast Securities in Shanghai.

"It probably also points to the diminishing enthusiasm mainland investors have for these stocks."

The financial sub-index, which has risen around 6.5 percent in the past two weeks, declined 3.5 percent. Huatai Securities plummeted 7.1 percent and Founder Securities fell 5.4 percent.

Many small cap shares rose with Shenzhen's Nasdaq-style ChiNext board gaining 1.1 percent.   Continuación...