China stocks fall despite chorus of media support; Hong Kong holds firm

martes 23 de junio de 2015 01:02 GYT

* CSI300 -1.4 pct; SSEC -2.4 pct; HSI +0.4 pct

* Investors dump shares, shrugging off media support

* Hong Kong up on Greek deal optimism

By Samuel Shen and Pete Sweeney

SHANGHAI, June 23 (Reuters) - China stocks extended losses on Tuesday morning following last week's 13 percent collapse, as investors cut leverage despite a chorus of official media saying the bull market is not yet over.

Chinese market resumed trading after a public holiday on Monday, but sentiment remained weak after last week's sharp correction which was triggered by fresh government moves to tighten margin financing, and worsened by a tidal wave of initial public offerings that sapped liquidity.

But Hong Kong stocks were firmer, drawing support from buoyant global markets on hopes of an eleventh hour deal between Greece and its international creditors.

China's key CSI300 index fell 1.4 percent by midday, while the Shanghai benchmark lost 2.4 percent.

In Hong Kong, the benchmark Hang Seng index added 0.4 percent, while the Hong Kong China Enterprises Index gained 1.0 percent.   Continuación...