China stocks reach 7-year highs as Beijing eases property policies

martes 31 de marzo de 2015 00:47 GYT
 

* CSI300 +0.5 pct; SSEC +0.1 pct; HSI +0.5 pct

* Property, banking shares rise on easing policies

* Hong Kong shares up on signs of inflows from China

By Samuel Shen and Pete Sweeney

SHANGHAI, March 31 (Reuters) - China stocks hit fresh seven-year highs on Tuesday morning, helped by rises in property and banking stocks after Beijing eased lending policies to bolster the struggling real estate market.

The CSI300 index surged 1.9 percent early but ended the morning up 0.5 percent. The Shanghai Composite Index also gave up some early gains, and was 0.1 percent ahead at midday.

Hong Kong's benchmark Hang Seng index rose 0.5 percent on China's latest easing move, touching six-month-highs, with Hong Kong-listed Chinese companies climbing on signs of fresh money inflows from the mainland.

Stocks in the mainland are at levels "where some investors are piling in while some others are taking profit, which is why you see huge turnover," Shen Yun, Shanghai-based analyst at Wanlian Securities said.

"We're cautiously optimistic. The market may go up further, but you need to brace yourself for possible corrections," he said.   Continuación...