China stocks slip at midday after release of pension guidelines

martes 22 de marzo de 2016 00:33 GYT
 

* CSI300 -0.8 pct, SSEC -0.8 pct, HSI -0.4 pct

* Financial shares lead declines

* Market weighs pension guidelines, c.bank comments

SHANGHAI, March 22 - China stocks fell on Tuesday as the market weighed new guidelines on pension products and recent comments by the central bank governor that some short-term speculative funds may be leaving the country.

Financial shares, primarily brokerage and insurance stocks, led indices lower.

The CSI300 index fell 0.8 percent, to 3,223.12 points at the end of the morning session, while the Shanghai Composite Index lost 0.8 percent, to 2,995.14 points.

China CSI300 stock index futures for April fell 0.3 percent, to 3,198.2, or 24.92 points below the current value of the underlying index.

Governor Zhou Xiaochuan's comments on Sunday about short-term funds came in the context of saying recent data showed an easing of capital outflows.

"There are several factors pushing financial shares lower today, but uncertainty over the meaning of Zhou Xiaochuan's comments for the equity market is one," said Zhang Gang, analyst at China Central Securities in Shanghai.   Continuación...