China shares up as economic optimism eases IPO worry; Hong Kong flat

lunes 23 de noviembre de 2015 00:58 GYT

* CSI300 +0.5 pct; SSEC +0.4 pct; HSI flat

* Improving confidence in economy overcomes IPO anxiety

* Shares of Guotai Junan dive in Hong Kong on missing CEO

SHANGHAI, Nov 23 (Reuters) - China stocks rose early on Monday as investors brushed aside the potential impact on liquidity from a batch of new listings, heartened by recent government steps to stimulate the economy.

Hong Kong shares were almost flat, with investors increasingly relaxed about the prospect of higher U.S. interest rates next month and looking for fresh cues on direction.

China's blue-chip CSI300 index rose 0.5 percent, to 3,791.74 points by the lunch break, while the Shanghai Composite Index gained 0.4 percent, to 3,644.70 points.

Ten Chinese companies published prospectus filings on Monday indicating they would raise a combined 3 billion yuan ($469.70 million) via share sales, as China resumes initial public offerings, which were suspended during the summer market rout.

But sentiment was calm as the new listings had been expected for some time, while the total amount of fundraising appears relatively small.

Instead, investors drew optimism from fresh government measures to support consumption and innovation as Beijing looks for new drivers of economic growth.   Continuación...