China stocks mixed, property drags; HK tracks Wall St higher

jueves 19 de noviembre de 2015 00:25 GYT
 

* CSI300 +0.2 pct; SSEC -0.1 pct; HSI 1.2 pct

* Property shares pull back from Wednesday's rally

* Hong Kong stocks follow Wall Street higher

SHANGHAI, Nov 19 (Reuters) - China stocks ended Thursday morning mixed as small caps rebounded but property shares dropped on profit-taking after the previous session's surge, with investors cautious ahead of a batch of initial public offerings.

Hong Kong shares climbed over 1 percent, encouraged by a jump in Wall Street after minutes from the most recent Federal Reserve policy meeting strengthened expectations for a rate hike in December, a move that would remove lingering uncertainty in financial markets.

The CSI300 index rose 0.2 percent, to 3,721.21 points at the end of the morning session, while the Shanghai Composite Index lost 0.1 percent, to 3,566.83 points.

The market was hald back by a sharp correction in property stocks. The CSI300 Real Estate index fell 1.7 percent, wiping much of Wednesday's 3.5 percent jump.

"It is normal to see a pullback in the property sector after the recent rally," said Gerry Alfonso, director at Shenwan Hongyuan Securities Co.

The market is facing short-term liquidity pressure as regulators have said initial public offerings, which were suspended during the summer market rout, would soon be resumed.   Continuación...