China stocks take breather, but poised for 3rd week of gains

viernes 19 de agosto de 2016 01:01 GYT
 

* SSEC -0.5 pct, CSI300 -0.4 pct, HSI -0.3 pct

* HK->Shanghai Connect daily quota used 1 pct, Shanghai->HK daily quota used 7.8 pct

BEIJING Aug 19 (Reuters) - China stocks edged down on Friday morning on profit-taking pressure, but the blue-chip index is poised for a third consecutive week of gains supported by expectations of more government stimulus.

Gains in financials and M&A activity in the real estate sector were also behind a strong performance in mainland markets earlier in the week.

The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.4 percent to 3,350.09 points at the end of the morning session. The CSI300 index is up 1.7 percent for the week so far, on track for its third weekly gain.

The Shanghai Composite Index lost 0.5 percent, to 3,090.07 points. It is up 1.29 percent for the week and is set for a second week of gains.

China CSI300 stock index futures for August fell 0.1 percent, to 3,358.4, 8.31 points above the current value of the underlying index.

Mainland stocks had risen earlier in the week, led by financial shares, on hopes the government would roll out more stimulus this year to meet economic growth targets.

Analysts said some investors rushed to take profits on Friday morning, which put some pressure on the indexes.   Continuación...