China, HK stocks fall, investors still shaky despite support measures

miércoles 5 de agosto de 2015 00:17 GYT

* CSI -1.5pct; SSEC -1.3pct; HSI +0.3pct

* PBOC vows to stabilise financial market expectations

* July Caixin services PMI hits 11-mth high

HONG KONG, Aug 5 (Reuters) - China stocks fell on Wednesday, shrugging off a vow by the central bank to stabilise market expectations and a private survey which showed activity in the services sector activity accelerated last month.

With major benchmark indexes still down some 25 percent since mid-June, investor confidence remains shaky even after a flurry of unprecedented market support measures from Beijing in recent weeks, analysts said.

The CSI300 index fell 1.5 percent to 3,889.03 points by the end of the morning session, while the Shanghai Composite Index lost 1.3 percent to 3,708.66 points.

China CSI300 stock index futures for August fell 2.2 percent to 3,752.8, or 136.23 points below the current value of the underlying index, pointing to expectations of further weakness.

"The stock market lacks supports from economic fundamentals and fund supplies to rebound sharply for the rest of the year," said Zhang Gang, an analyst at Central China Securities in Shanghai.

A shares will likely trade between 3,300-4,200 points in the next six months, Zhang said.   Continuación...