China stocks head for 4th week of decline; Hong Kong reaches 2-mth low

viernes 13 de mayo de 2016 00:53 GYT

* CSI300: flat; SSEC: flat; HSI: -1.0 pct

* China index poised to fall for four straight weeks

* Hong Kong Q2 economic growth likely weakest in 4 years

SHANGHAI, May 13 (Reuters) - China stocks were little changed on Friday morning, but the benchmark index is heading towards its fourth week of declines amid increasing doubts over the strength of the country's economic recovery.

Hong Kong shares dropped to a fresh two-month low, dragged lower by energy and tech shares.

As a bearish week for China stocks approached its end, both the blue-chip CSI300 index and the Shanghai Composite Index stabilized, ending the morning session flat, at 3,088.78 points and 2,837.01 points, respectively.

The Shanghai Composite is down 2.6 percent so far for the week.

Investor confidence had been hit by a People's Daily article published on Monday, which warned of economic recession if China continues to use rapid credit expansion to stimulate growth.

The story, which also judged that China's economic trend is "L-shaped", is widely seen as signalling a shift away from Beijing's stimulus efforts via credit expansion policies.   Continuación...