China stocks firm on better-than-expected factory data; Hong Kong down

lunes 14 de diciembre de 2015 00:45 GYT
 

* CSI300 +0.6 pct; SSEC +0.5 pct; HSI -0.9 pct

* China Nov factory activity stronger than expected

* Fosun-related shares tumble despite Chairman appearance

SHANGHAI, Dec 14 (Reuters) - China stocks overcame an early morning wobble and ended firmer by the lunch break on Monday, with better-than-expected factory activity data lifting sentiment without dashing hopes of fresh stimulus.

But Hong Kong equities tracked global markets lower, with investors bracing for a possible U.S. rate rise later this week.

In both markets, though, stocks with ties with China's Fosun Group all slumped, as investors had their first chance to react to news that Fosun's billionaire chairman was assisting authorities with an investigation.

At the end of the morning session, China's blue-chip CSI300 index was up 0.6 percent, to 3,628.33 points, while the Shanghai Composite Index gained 0.5 percent to 3,453.16 points.

Reflecting government calls for economic restructuring, as well as investor's shifting taste, 20 companies - including cinema operator Wanda Cinema Line Co and green energy firm CECEP Wind-Power Corp were added to the flagship CSI300 index, replacing a score of constituents that include many resources companies.

But on Monday, many sectors that represent China's old growth model, including property, infrastructure , resources and energy had a decent performance, after weekend data showed China's factory output growth picked up to a five-month high.   Continuación...