China stocks fall as market reopens; Hong Kong shares rebound
* CSI300 -1.4 pct; SSEC -1.6 pct; HIS +2.7 pct
* Stronger yuan offsets impact from disappointing trade data
* Gold stocks in China surge on rising gold prices
SHANGHAI, Feb 15 (Reuters) - China stocks fell on Monday morning, but losses were mitigated by a sharply stronger yuan and a surge in gold shares after the market reopened from the week-long Lunar New Year holiday.
A slump in Chinese-listed shares in Hong Kong and a global sell-off last week driven by falling commodity prices and concerns about the impact on European banks, had put investors on edge ahead of the reopening of China's stock markets.
But even with disappointing Chinese trade data early in the session, initial losses were pared by the midday break. Exports fell 11.2 percent in January from a year earlier and imports tumbled 18.8 percent, both far worse than expected.
China's blue-chip CSI300 index was down 1.4 percent, at 2,921.23 points, while the Shanghai Composite Index lost 1.6 percent, to 2,720.03 points.
Hong Kong stocks, which sank to 3-1/2 lows on Friday, staged a sharp rally, taking cues from a jump in Japan equities on Monday and a Friday rebound in U.S. and European markets.
The Hang Seng index jumped 2.7 percent, to 18,819.59 points, while the Hong Kong China Enterprises Index surged 4.3 percent, to 7,829.12. Continuación...