China stocks fall 2 pct on deflation worries, shrug off firmer yuan

lunes 11 de enero de 2016 00:22 GYT

* CSI 300 -2.2 pct; SSEC -2.4 pct

* Shrugs off firmer yuan

* Weekend data point to growing deflationary risks

* Financial stocks lead declines

SHANGHAI, Jan 11 - China stocks fell more than 2 percent on Monday, shrugging off a firmer yuan, as data pointed to growing deflationary risks in the world's second-largest economy.

The CSI300 index fell 2.2 percent to 3,288.80 points at the end of the morning session, while the Shanghai Composite Index lost 2.4 percent to 3,109.95.

China CSI300 stock index futures for January fell 2.4 percent, to 3,256, 32.80 points below the current value of the underlying index, suggesting investors see further losses.

"The market is still a bit unstable," said Xiao Shijun, an analyst at Guodu Securities in Beijing.

"Following the big move in the yuan last week, most A-shares are still under a fair amount of pressure."   Continuación...