UPDATE 1-China stocks tumble more than 6 pct, post biggest 1-day loss in a month

jueves 25 de febrero de 2016 05:16 GYT

* IPO liberalisation, cooling economy among investor worries

* Market waiting for policy cues from G20 meet

* Hong Kong stocks also fall (Adds details of moves, analyst quotes)

SHANGHAI, Feb 25 (Reuters) - China stocks tumbled more than 6 percent on Thursday, their biggest one-day loss in a month, as investors booked profits after the market's recent rebound and awaited policy cues from global leaders gathering in Shanghai for a G20 meeting.

Traders and analysts cited a confluence of reasons for the slide in addition to profit-taking. These include fears of tighter liquidity in the financial system, worries about the cooling economy and anxiety over looming liberalisation of initial public offerings (IPOs), which some investors fear could result in a cash crunch.

The benchmark Shanghai Composite Index dropped 6.4 percent to 2,741.25, its biggest one-day loss since Jan 26. The blue-chip CSI300 index slumped 6.1 percent to 2,918.75 points.

The bearish sentiment spilt over into Hong Kong, where the benchmark Hang Seng index dropped 1.6 percent and the Hong Kong China Enterprises Index was off 2.4 percent.

China's stock markets have lost nearly half of their value since early June last year and have struggled to recover despite a massive and unprecedented rescue effort by the government and regulators. The plunge, along with China's surprise devaluation of the yuan currency in August, roiled global financial markets and added to fears of a hard landing for the world's second-largest economy.

But more recently, mainland stocks have rebounded roughly 10 percent from 14-month lows hit in late January, fuelled by a global market recovery, central bank efforts to stabilise the yuan and hopes that Beijing will unveil more stimulus.   Continuación...