China shares edge up in cautious trade; Hong Kong follows Wall Street higher

lunes 23 de mayo de 2016 00:23 GYT
 

* CSI300: +0.3 pct; SSEC: +0.5 pct; HSI: +0.3 pct

* China stocks still in bearish trend - analyst

* $35.5 bln worth of A-shares come out of lock-up in June

SHANGHAI, May 23 (Reuters) - China stocks edged up on Monday morning, but trading remained light, with the market's bearish trend seen persisting as the government holds off on further policy stimulus.

Hong Kong shares also rose, following a solid session on Wall Street.

CSI300 index rose 0.3 percent, to 3,088.33 points by the lunch break, while the Shanghai Composite Index gained 0.5 percent, to 2,840.27 points.

The Shanghai index has fallen for five weeks in a row as investor enthusiasm waned on signs that China's nascent economic recovery is losing steam and as policymakers turn more cautious over stimulus as corporate bad debts soar.

"People would use any rebounds to sell stocks, as the market is in a bearish trend, both technically, and fundamentally," said Yu Bin, analyst at Zhongtai Securities.

"Pessimism has replaced optimism as the government has put restructuring, instead of stimulus or growth, at the centre of its policy-making."   Continuación...