China stocks dip, property outperforms; HK flat as Fed, BOJ awaited

martes 20 de septiembre de 2016 01:02 GYT
 

* SSEC -0.1 pct, CSI300 -0.1 pct, HSI -0.2 pct

* Home price in major Chinese cities jump

* Investors cautious ahead of Fed, BOJ policy meeting

SHANGHAI, Sept 20 (Reuters) - China stocks stepped back in thin trading on Tuesday morning, with upbeat home price data bolstering the property sector in an otherwise sluggish market.

Hong Kong stocks were roughly flat as investors were cautious before central bank policy meetings in the United States and Japan.

Both China's blue-chip CSI300 index and the Shanghai Composite Index fell 0.1 percent, to 3,260.11 points and 3,024.08 points, respectively.

Trading turnover in Shanghai, which hit a 1-1/2-month low on Monday, remained thin.

Shenwan Hongyuan Securities Co advised clients in a note to adopt a wait-and-see cautious stance as the recent rebound in the market appeared technical in nature, and not sustainable.

Property stocks were in the spot light after fresh official data showed the average new home price in 70 major Chinese cities climbed 9.2 percent from a year earlier in August, up from 7.9 percent in July.   Continuación...