China, Hong Kong stocks steadier after recent volatility

jueves 28 de enero de 2016 01:16 GYT

* CSI300 -0.3 pct; SSEC -0.5 pct; HSI flat

* China stocks trade at 37 percent premium to Hong Kong peers

SHANGHAI Jan 28 (Reuters) - China and Hong Kong stocks showed some signs of stabilisation on Thursday morning after recent sharp falls eased selling pressure and on demand for selected blue chips.

"The market was more stable after it slumped so heavily of late," said Liu Jingde, an analyst at Cinda Securities in Beijing.

"The main reason may be some blue chip stocks were supporting the market, capping the indexes' falls."

The CSI300 index edged down 0.3 percent to 2,922.14 points by midday, while the Shanghai Composite Index lost 0.5 percent, to 2,722.55 points.

The Hang Seng index was unchanged at 19,061.00 points, while the Hong Kong China Enterprises Index gained 0.2 percent, to 7,976.76.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 136.89, dropping 0.8 percent, indicating a narrowing of the premium of Shanghai share prices versus Hong Kong's.

The northbound quota for the Hong Kong-Shanghai Stock Connect, currently set at 13 billion yuan, saw net inflows of 0.08 billion yuan, indicating some bargain-hunting in Shanghai after the recent sell-off.   Continuación...