China stocks slip as hopes for monetary stimulus cool

jueves 22 de enero de 2015 00:59 GYT
 

* CSI300 -0.1 pct; SSEC -0.2 pct; HSI +0.4 pct

* Monetary policy should remain stable, says head of PBOC

* C.bank gov's comment reduces hopes for stimulus

By Sue-Lin Wong

SHANGHAI, Jan 22 (Reuters) - China's stocks slipped early Thursday after a comment by the country's central bank governor that monetary policy should remain "stable" disappointed investors wanting a policy move to help speed up growth.

The CSI300 index was off 0.1 percent, to 3,544.18 points at the end of the morning session, and the Shanghai Composite Index shed 0.2 percent, to 3,317.01 points.

Speaking at the World Economic Forum in Davos, People's Bank of China chief Zhou Xiaochuan said there was no serious nationwide housing problem, so China should continue its neutral monetary policy.

Analysts say this disappointed Chinese investors hoping the PBOC will cut interest rates or reduce banks' reserve ratio requirement (RRR).

"Zhou Xiaochuan's indication that monetary policy should remain neutral has cooled the stock market," said Li Zheming, an analyst at Datong Securities in Dalian.   Continuación...