China stocks recoup losses as infrastructure shares jump; Hong Kong lower

jueves 12 de mayo de 2016 00:56 GYT

* CSI300 +0.1 pct; SSEC -0.3 pct; HSI: -0.4 pct;

* Sentiment in China aided by $724 bln transport investment plan

* Shares of Macau gambling stocks fall on tighter regulations

SHANGHAI, May 12 (Reuters) - China stocks dropped to two-month lows when trading opened on Thursday but erased the losses by midday, as Beijing's $724 billion transport investment plan bolstered infrastructure shares and eased worries about a shift in economic policies.

However, Hong Kong shares fell following a dismal day on Wall Street.

At midday, China's blue-chip CSI300 index was up 0.1 percent, to 3,085.63 points. The Shanghai Composite Index was down 0.3 percent, at 2,828.92 points.

The confidence of investors had been hurt by a People's Daily article on Monday that hinted Beijing will no longer use rapid credit expansion and loose monetary policies to stimulate growth.

But they drew solace from a massive investment plan announced late on Wednesday.

China will invest around 4.7 trillion yuan ($724 billion) in transport infrastructure projects over the next three years, the country's transport ministry said.   Continuación...