China stocks fragile as weak profits data weigh on sentiment

lunes 28 de septiembre de 2015 00:45 GYT
 

* CSI300 flat; SSEC -0.2 pct; HK market suspended

* August industrial profit down 8.8 pct

* small caps rebound, outperforming blue chips

SHANGHAI, Sept 28 (Reuters) - China share markets got the week off to a tentative start, with subdued activity on Monday morning partly reflecting caution after data showed weak profits at industrial firms.

On top of the persistent signs of weakness in the economy, investors were also unwilling to plough funds into stocks ahead of China's week-long national holidays that starts on Thursday.

Hong Kong's market was closed on Monday for a public holiday.

The blue-chip CSI300 index was unchanged at 3,232.09 points at the end of the morning session, while the Shanghai Composite Index lost 0.2 percent, to 3,086.34 points. At one point in early trade, SSEC hit a low of 3,042.31, the weakest level since Sept. 16.

The gauges are now down roughly 40 percent from their mid-June peaks but concerns over a wobbly economy have deterred bargain hunting.

Those worries were once more underscored by data showing profits earned by Chinese industrial companies declined 8.8 percent in August from a year ago.   Continuación...