China stocks flat as better trade data temper easing view, HK up

jueves 8 de septiembre de 2016 01:20 GYT

* SSEC flat, CSI300 -0.1 pct, HSI +0.4 pct

* HK->Shanghai Connect daily quota used 3 pct, Shanghai->HK daily quota used 25.5 pct

SHANGHAI, Sept 8 (Reuters) - China stocks were roughly flat on Thursday morning as positive news on the data front was eclipsed by receding expectations for additional monetary policy support.

The CSI300 index fell 0.1 percent, to 3,336.62 points at the end of the morning session, while the Shanghai Composite Index was flat at 3,091.08 points.

The sluggish market action came even as data showed China's imports unexpectedly rose in August for the first time in nearly two years, and exports fell at a more modest pace.

"The August official Purchasing Managers' Index (PMI) has already provided a clue that the Chinese economy is steadying," said Xiao Shijun, analyst at Guodu Securities in Beijing.

Now, the trade data, "also indicates that chances of further easings, say interest rate or RRR cuts, are slim," he said.

Other factors were also at play.

Lu Wenjie, strategist at UBS Securities, said there is "quite limited" room for further growth in China's A shares, especially as Chinese money continues to pour into Hong Kong.   Continuación...