China shares flat as profit taking tempers infrastructure gains

martes 4 de noviembre de 2014 01:02 GYT
 

* HSI + 0.2 pct, H-shares + 0.6 pct, CSI300 flat

* Mainland shares face profit-taking after 5-day rising streak

* China encourages infrastructure firms to invest overseas

* HK strong on hopes of mainland SOE reform

By Chen Yixin and Adam Jourdan

SHANGHAI, Nov 4 (Reuters) - China shares were flat on Tuesday morning after a five-day rally as profit taking capped gains in engineering and machinery companies, which rose after Beijing encouraged infrastructure firms to invest abroad.

The Shanghai Composite Index was flat at 2,430.0 points by the midday break, while the CSI300 of the leading Shanghai and Shenzhen A-share listings remained unmoved.

"The index met with strong profit taking pressures, but I think it could correct in the near team," said Zhang Qi, an analyst at Haitong Securities in Shanghai.

Shares in infrastructure firms were the biggest gainers, with market players pointing to recent moves by Beijing to encourage investment in overseas infrastructure projects, akin to the post-World War Two reconstruction effort or "Marshall Plan" for China.   Continuación...