China stocks down on IPOs; Hong Kong weak amid political uncertainty

jueves 18 de junio de 2015 00:52 GYT
 

* CSI300 -0.5 pct; SSEC -0.2 pct; HSI -0.6 pct

* Property stocks firm on improving price data; banks down

* Hong Kong sentiment hurt by vote-reform plan anxiety

By Samuel Shen and Pete Sweeney

SHANGHAI, June 18 (Reuters) - China stocks came under pressure on Thursday morning from 11 IPOs rushing onto the market, prompting some investors to take profits in outperforming banking shares, though property stocks were firm on improving home-price data.

Hong Kong shares remained weak, with sentiment hurt by prospects the Federal Reserve could raise rates as early as September - which could pull money to the U.S. - and also by debate over a controversial electoral package for the city.

During the midday break, Hong Kong's legislature vetoed the proposed package.

China's CSI300 Index was down 0.5 percent at the end of the morning session, while Shanghai's benchmark SSEC had recouped some early losses to be off 0.2 percent.

Hong Kong's key index Hang Seng was a touch lower, while the Hang Seng China Enterprises index lost 0.6 percent.   Continuación...