China stocks pause after 6-day rally; Hong Kong up on Fed's rate remarks

jueves 19 de marzo de 2015 00:42 GYT
 

* CSI300 flat; SSEC +0.3; HSI +1.3;

* Signs of fresh money inflows into China stock market

* Hong Kong shares up after Fed's signal on rate hike

SHANGHAI, March 19 (Reuters) - Chinese stocks were little changed on Thursday, taking a break after a six-day rally, but traders said signs of strong inflows were pointing to another leg up in the markets' long bull run.

Hong Kong's benchmark stock index rose more than 1 percent, with liquidity worries eased a bit after the Federal Reserve on Wednesday signalled it is in no rush to raise interest rates.

"China's stock market is liquidity-driven. Today, the market is taking a breath after rising for six straight sessions, which is very natural," said Qiu Shi, Shenzhen-based analyst at Haitai Financial Holdings (Hong Kong) Ltd.

"After the short break, the market will likely resume its upward momentum."

Investors previously worried about China's economic health regained confidence after Premier Li Keqiang vowed on Sunday to support the economy and protect jobs.

Trend investors are also flocking into stocks after China's main stock indexes broke through psychological resistance levels and hit near seven-year highs.   Continuación...