China stocks set for 3rd day of gains, Hong Kong slips on US rate worry

viernes 6 de noviembre de 2015 00:34 GYT
 

* Main indexes up; small caps help sustain the rise

* Some investors sell blue chips on profit taking

* Hong Kong index down, pressured by possible U.S. rate hike

SHANGHAI, Nov 6 (Reuters) - China's stocks rose for a third day on Friday, but gains were largely capped as investors took profit in blue chip companies after the market rallied to 2-1/2 month highs this week.

By the midday break, the CSI300 index was up 0.7 percent, at 3,733.42 points, while the Shanghai Composite Index gained 0.5 percent, to 3,541.02 points.

"Retail investors took profit and sold shares of securities, banks and other blue chip companies, which weighed on the composite index," said Tian Weidong, an analyst at Kaiyuan Securities in Xian.

"Yet the correction seemed modest, indicating the overall market sentiment is warming."

The mainland stock market has gained more than 20 percent from the troughs they hit during the August stock crash, and the rally this week has driven trading volume to a three-month high.

Shares of blue chip stocks retreated from the blistering boost that was kicked off by the expectation of an upcoming trading connect between Hong Kong and Shenzhen stock markets and other signs of tentative recovery in the Chinese economy.   Continuación...