China stocks rise on sector restructuring hopes, shrug off weak data

lunes 10 de agosto de 2015 01:05 GYT
 

* CSI300 +2.9pct; SSEC +3.2pct; CHINEXTC +3.5pct; HSI -0.3pct

* China under pressure to further stimulate economy

* Property up after economic planner sees improvement in H2

HONG KONG, Aug 10 (Reuters) - China stocks rose on Monday on possible restructuring among major shipping firms and in other key sectors, and on hopes that less volatile trading may soon convince fund managers to get off the sidelines and put billions in cash back to work.

Mainland markets brushed off gloomy data at the weekend on trade and inflation, which reinforced expectations that Beijing will need to roll out more support measures for the economy.

"Mainland investors were digesting the excitement from last week as ample funds are waiting to re-enter the market," said Steven Leung, a director at UOB Kay Hian in Hong Kong.

"The anticipation of better earnings outlook following restructuring of industries one-by-one aided buying interest," Leung added.

The CSI300 index rose 2.9 percent to 4,018.87 points by the end of the morning session, while the Shanghai Composite Index gained 3.2 percent to 3,864.10 points.

China CSI300 stock index futures for August rose 3.6 percent, to 3,993.2, 25.67 points below the current value of the underlying index.   Continuación...