China, Hong Kong stocks rise on improving home price data

miércoles 18 de noviembre de 2015 00:29 GYT
 

* CSI300 +0.2 pct; SSEC +0.2 pct HSI +0.1 pct

* Property shares surge on Oct China home price data

* Signs of easing capital outflows also aid sentiment

SHANGHAI, Nov 18 (Reuters) - China stocks reversed early losses and ended Wednesday morning firmer, with market sentiment lifted by surging property shares as October home price data strengthened expectations that the economy may be bottoming out.

Both the CSI300 index and the Shanghai Composite Index rose 0.2 percent by midday, to 3,765.28 points and 3,611.10 points, respectively.

Hong Kong stocks also edged up in morning trading.

Mainland investors drew confidence from data showing China's home prices edged up 0.1 percent in October from a year earlier, the first monthly rise in 14 months.

Because real estate accounts for 15 percent of China's gross domestic product (GDP), any signs of a recovery in the sector are a welcome boost for the country's struggling economy.

The CSI300 property index jumped 5.8 percent, helped by surged in China's biggest developers such as Vanke and Poly Property.   Continuación...