China stocks rise, led by property, resources shares; HK down
* CSI300 +0.8 pct; SSEC +0.7 pct; HSI -0.3 pct
* Vanke leads property shares up as insurers build stakes
* Minmetal acquisition fuels consolidation hopes in mining sector
SHANGHAI, Dec 9 (Reuters) - China stocks climbed on Wednesday morning, led by property and resources shares, amid signs that insurers are scrambling for stakes in real estate majors and Beijing is accelerating consolidation among metal producers.
Hong Kong stocks sagged, however, pulled down by sluggish global markets and investor caution ahead of an expected U.S. rate hike next week.
China's blue-chip CSI300 index rose 0.8 percent, to 3,652.63 points by lunch break, while the Shanghai Composite Index gained 0.7 percent, to 3,492.58 points.
Investors apparently ignored Wednesday's data showing China's consumer inflation picked up slightly in November, even as factories were plagued by persistent producer price deflation.
"The macro-economic figures had a small net impact on the market," said Gerry Alfonso, director at Shenwan Hongyuan Securities.
Real estate was again in the spotlight. An index tracking the sector shot up 3.8 percent on the hope that Beijing will provide more supports for the industry. Continuación...