WRAPUP 1-China stocks have worst week since June as hope for govt rescue slumps

viernes 21 de agosto de 2015 05:36 GYT
 

* Main China indexes fall nearly 12 pct this week

* Hong Kong falls too, now a bear market

* Factory survey is latest worrying economy sign (Adds details, quotes)

By Samuel Shen and Pete Sweeney

SHANGHAI, Aug 21 (Reuters) - China stock markets tanked more than 4 percent on Friday, taking weekly losses for the main indexes to nearly 12 percent and casting doubt over Beijing's ability to prevent another bout of panic selling as the market neared collapse again.

The latest tumble followed similar declines in global markets and reflected sharp across-the-board falls in Chinese stock index futures as bears claimed victory over bulls on the settlement day for August index futures contracts. <0#CIF:>

Friday's plunge may also have been exacerbated by a private survey showing Chinese factory activity shrinking in August at the fastest pace in nearly 6-1/2 years.

But many investors also pointed to signs that regulators' commitment to pushing up the market has weakened. On Aug. 14, the China Securities Regulatory Commission (CSRC) said it would allow market forces to play a greater role, while keeping state investors involved to maintain stability.

On Friday, the CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 4.6 percent, to 3,589.54, bringing the week's loss to 11.9 percent - the worst performance since mid-June. The CSI300 has now given up all the gains it made since mid-March.   Continuación...