REFILE-China stocks take breather as IPO launches begin; Hong Kong falls

martes 2 de junio de 2015 00:38 GYT
 

(Corrects to add dropped word to headline)

* CSI300 flat; SSEC flat; HSI -0.7 pct

* 11 companies start IPO subscriptions on Tuesday

* Another deep correction unlikely - fund manager

By Samuel Shen and Nathaniel Taplin

SHANGHAI, June 2 (Reuters) - China stocks took a breather on Tuesday morning following the previous session's surge, as investors began subscribing for a large batch of initial public offerings (IPOs).

Both the CSI300 index and the Shanghai Composite Index, which jumped nearly 5 percent on Monday, shed early gains and ended Tuesday morning flat. Hong Kong stocks fell.

Eleven companies, including nuclear giant China National Nuclear Power Co Ltd, started taking IPO subscriptions on Tuesday, while another 12 firms will follow suit on Wednesday.

The flood of IPOs is expected to lock up a total of 8.3 trillion yuan ($1.34 trillion) of cash, much more than previous batches did, according to Xinhua news agency.   Continuación...