China, HK stocks fall ahead of economic data, track global weakness
* CSI300 -0.8 pct; SSEC -0.9 pct; HSI -0.7 pct
* Investors shrug off surprise rise in China forex reserves
* Market has priced in China economic rebound - investor
SHANGHAI, April 8 (Reuters) - China stocks fell nearly 1 percent on Friday morning ahead of a slew of economic data, with some investors locking in profit from a month-long rebound that reflects expectations for a strong first quarter.
Hong Kong shares also dropped, tracking weak global markets, as bank shares slumped in Europe and the United States.
The blue-chip CSI300 index fell 0.8 percent, to 3,183.82 points by the lunch break, while the Shanghai Composite Index lost 0.9 percent, to 2,981.42 points.
In Hong Kong, the Hang Seng index dropped 0.7 percent, while the Hong Kong China Enterprises Index lost 0.9 percent.
China's foreign exchange reserves surprisingly rose in March, the first monthly gain since November, as cooling expectations of U.S. interest rate hikes eased pressure on the yuan.
But investors awaiting economic indicators for March, including money supply, new lending and inflation due over the next week, were little inspired. Continuación...