China stocks gain as Q3 GDP eases hard landing fears; Hong Kong mixed
* CSI300 +0.6 pct; SSEC +0.5 pct; HSI -0.2 pct
* China quarterly GDP growth better than expected
* Signs that investors tip-toe back to mainland stock market
SHANGHAI, Oct 19 (Reuters) - China stocks rose modestly on Monday as third-quarter economic data showed a further gradual slowdown in activity but no signs of a hard landing which has been feared by some investors.
The CSI300 index rose 0.6 percent to 3,555.10 points by lunch time, while the Shanghai Composite Index gained 0.5 percent to 3,408.41.
Hong Kong shares were mixed, with the benchmark Hang Seng Index dipping 0.2 percent to 23,021.73, but the Hong Kong China Enterprises Index rising 0.1 percent to 10,648.30.
China's economic growth cooled to 6.9 percent in the third quarter, slightly better than expected but still the weakest pace since the global financial crisis, reinforcing views that policymakers will roll out more support measures which could reflate company's revenues and profit margins.
But no panic was seen among mainland investors as the slowdown had long been priced in.
"The GDP data is better than anticipated. It could mean that previously-announced stimulus, such as infrastructure investments, begins to work," said Yang Hai, strategist at Kaiyuan Securities. Continuación...