China stocks rise on factory surveys, optimism bull market not over

lunes 1 de junio de 2015 00:56 GYT
 

* CSI300 +2.9 pct; SSEC +2.8 pct; HSI +0.7 pct

* China mutual funds raised record $48 bln in May

* Investors draw solace from PMI surveys

By Smauel Shen and Pete Sweeney

SHANGHAI, June 1 (Reuters) - China stocks rose sharply on Monday morning, as investors took a positive view on fresh official economic surveys and welcomed a chorus of domestic media commentary asserting the bull market has not yet ended.

The CSI300 index rose 2.9 percent, to 4,981.93 points at the end of the morning session, while the Shanghai Composite Index gained 2.8 percent, to 4,739.33 points.

In Hong Kong, both the Hang Seng index and the Hong Kong China Enterprises Index were up 0.7 percent.

Growth in China's giant factory sector edged up to a six-month high in May although export demand continued to shrink, according to the official manufacturing Purchasing Managers' Index (PMI).

A similar official survey on the services sector showed activity cooled to its slowest rate in over five years, reinforcing views that authorities will have to roll out more stimulus in coming months.   Continuación...