Robust Sept loan growth helps China stocks rise; Hong Kong also up

viernes 16 de octubre de 2015 00:54 GYT

* CSI300 +0.3 pct; SSEC +0.3 pct; HSI +0.6 pct

* China new loans surge in Sept on easing measures

* Airlines up on bullish profit forecasts

SHANGHAI, Oct 16 (Reuters) - China and Hong Kong stocks rose again on Friday, with the Shanghai market on track for its biggest weekly gain in two months after data showing new Chinese loans surged in September.

Both the CSI300 index and the Shanghai Composite Index finished morning trade up 0.3 percent, reaching 3,498.67 points and 3,348.58 points, respectively.

Although the indexes gave up some early-morning gains, the Shanghai benchmark was still up more than 5 percent for the week. The CSI300 was up 4.7 percent for the week.

Gerry Alfonso, Shanghai-based director at Shenwan Hongyuan Securities, said that given recent volatility "it is not surprising there is some profit-taking but it does not necessarily mean that there is a deterioration in investors' sentiment."

Lending by Chinese banks surged by far more than expected in September, with 1.05 trillion yuan ($165.47 billion) in new yuan loans extended following moves to stop the economy slowing by cutting interest rates and prioritising infrastructure projects.

Hopes for more government stimulus have fuelled the market's recent rebound, and some analysts look for more steps even after the robust lending data.   Continuación...