Oil stocks lead China, Hong Kong markets lower

lunes 18 de abril de 2016 00:13 GYT

* CSI300 -1.1 pct; SSEC -1.3 pct; HSI -1.2 pct

* Oil futures fall after plan to cap output collapses

* Hopes for China growth revival can be dashed -analyst

SHANGHAI, April 18 (Reuters) - China and Hong Kong stocks tracked regional markets lower on Monday morning, with sentiment soured by a tumble in crude oil futures after weekend talks among exporters failed to reach agreement on production cuts.

There's also mounting worries that the markets' robust rebound since February is not sustainable, as China's economic recovery - indicated by upbeat data recently - remains fragile.

The blue-chip CSI300 index fell 1.1 percent, to 3,234.86 points by lunch break, while the Shanghai Composite Index lost 1.3 percent, to 3,037.80 points.

In Hong Kong, the Hang Seng index dropped 1.2 percent, while the Hong Kong China Enterprises Index lost 2.1 percent.

China's central bank governor Zhou Xiaochuan told a meeting in Washington over the weekend that the country's economy is off to a good start in 2016, with economic indicators seeing a pick-up.

However, some analysts contend that many data pieces including iron ore, rebar and property prices are lagging indicators and will peak in the coming months, potentially dealing a blow to investors seeking growth signals.   Continuación...