China stocks rise on signs of property recovery; Hong Kong also up

viernes 12 de junio de 2015 00:54 GYT
 

* CSI300 +0.3 pct; SSEC +0.4 pct; HSI 0.6 pct

* Shenzhen property market shows signs of recovery - paper

* Hong Kong to introduce Volatility Control Mechanism

By Samuel Shen and Pete Sweeney

SHANGHAI, June 12 (Reuters) - China stocks rose slightly on Friday morning, with property shares firmer on signs of a renewal in the country's sluggish real estate market, but overall sentiment was cautious before a fresh wave of IPOs next week.

Next week, 25 companies will launch initial public offerings, which analysts estimate could lock up 5.5 trillion yuan ($886.20 billion) of liquidity.

The property sector was underpinned by official data pointing to an improvement in real estate investment and home sales in China, with the recovery most obvious in major cities.

Several banks in the southern Chinese boom town of Shenzhen increased mortgage rates after the city's property market turned up in the wake of stimulus policies unveiled by Beijing in late March, local newspaper reported on Friday.

The brighter outlook in property offers some relief to investors who this week were confronted by a slew of weak data showing the economy is still struggling.   Continuación...