China stocks flat, but property sector up; Hong Kong set for rebound

martes 15 de diciembre de 2015 00:42 GYT

* CSI300 flat; SSEC +0.1 pct; HSI +0.5 pct

* Property shares jump on policy expectations

* Fosun International shares continue to slide

SHANGHAI, Dec 15 (Reuters) - China stocks were flat on Tuesday morning, with a correction in banking and resource shares countering a surge in property firms that was triggered by policy expectations.

Hong Kong's Hang Seng index edged up, underpinned by investors betting on a rebound after eight consecutive sessions of decline.

China's blue chip CSI300 index was unchanged at 3,712.67 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent, to 3,523.66 points.

Chinese leaders, meeting ahead of an agenda-setting conference, pledged on Monday to keep the country's economic growth in a "reasonable range" in 2016 by expanding domestic demand and making supply-side improvements.

Property stocks surged as the government vowed to take more steps next year to help companies lower costs, tackle property inventories and ward off financial risks. An index tracking the sector jumped 3.2 percent.

"An important step towards normalising the economy is having a stable property sector so it is likely a high priority item for the authorities," wrote Gerry Alfonso, director at Shenwan Hongyuan Securities Co.   Continuación...