China stocks mixed, Hong Kong shares rise

jueves 2 de abril de 2015 00:48 GYT

* CSI300 -0.1 pct; SSEC +0.2 pct; HSI +0.4 pct

* ChiNext at record high; Hong Kong's GEM keeps rising

* Margin financing in Shanghai tops 1 trln yuan for 1st time

By Samuel Shen and Pete Sweeney

SHANGHAI, April 2 (Reuters) - China stocks were mixed on Thursday morning, as investors shifted their interest toward growth stocks from blue chips.

But sentiment remained upbeat on news that Beijing is expanding the investment scope of country's 1.2 trillion yuan ($194 billion) social security fund.

The fund, which backs China's pension system, will be allowed to buy more local government debt, investment trusts and shares in state-owned companies, the Chinese government said late on Wednesday.

Analysts said the move is expected to channel more money into the stock market, and help reduce financial risks accumulated in massive local government borrowings.

"A bullish stock market can help accelerate the pace of asset securitisation and solve many problems including local government debt issues," said Chen Zhizhong, a Shenzhen-based analyst at China Merchants Securities.   Continuación...