China, Hong Kong stocks up despite weak April data

lunes 16 de mayo de 2016 00:33 GYT

* CSI300 +0.3 pct; SSEC +0.2 pct; HSI +1.2 pct

* April China economic activity data disappoints

* Market aided as regulator assures on M&As policy

SHANGHAI, May 16 (Reuters) - China stocks rose slightly on Monday after the securities regulator denied media reports it was cracking down on fundraising and mergers and acquisitions in certain sectors, helping to offset disappointing April economic data.

Hong Kong shares also gained, taking cues from upbeat Japan stocks.

China's blue-chip CSI300 index rose 0.3 percent to 3,083.26 points by the lunch break, while the Shanghai Composite Index gained 0.2 percent to 2,833.48 points.

The market had dropped for four weeks in a row amid increasing concerns that a recent pick-up in China's economic activity may be fizzling out.

Confidence was also hit last week by media reports saying China would suspend additional fundraising and M&As in four industries, including online finance, gaming, film and virtual reality.

But most stocks in those sectors rose on Monday, after the securities regulator denied the report late on Friday and said it would continue to support M&As by qualified listed companies, with no change to existing policies.   Continuación...