China stocks higher of policy easing hopes; HK tracks Wall Street rally

viernes 12 de agosto de 2016 00:40 GYT
 

* CSI300 +0.3 pct; SSEC +0.2 pct; HSI +0.8 pct

* China bond yields fall as economic data spurs easing hopes

* Vanke leads rally in China property shares

SHANGHAI, Aug 12 (Reuters) - China stocks climbed on Friday morning, led by financial and property shares, as government bond yields continue to fall, reflecting bets that worse-than-expected economic data would prod Beijing to launch fresh easing.

Hong Kong shares were also firm, hitting a nine-month intraday high, as Asian investors took cues from Wall Street's records overnight.

China's blue-chip CSI300 index rose 0.3 percent, to 3,243.63 points by lunch break, while the Shanghai Composite Index gained 0.2 percent, to 3,009.71 points.

Data released on Friday showed that growth in China's fixed-asset investment, industrial output and retail sales all missed forecasts, while property investment and sales growth continues to moderate.

The disappointing data prompted bets on further easing.

"The marked economic slowdown means there's still need for further easing," wrote Li Huiyong, economic at Shenwan Hongyuan Securities.   Continuación...