China stocks give muted response to economic outlook presented at key meeting

viernes 6 de marzo de 2015 01:06 GYT

* CSI300 flat; SSEC +0.1; HSI flat

* Investors see little fresh money moving into stocks

* Transport stocks up on CNR-CSR merger; brokerages up

SHANGHAI, March 6 (Reuters) - China stocks were mixed on Friday morning, as investors appeared uninspired by the economic outlook presented at the country's annual parliamentary meeting, where the premier called slower growth the "new normal".

The government this year plans to step up spending and have its biggest budget deficit since the global financial crisis. On Thursday, Premier Li Keqiang announced a growth target of around 7 percent.

"The central bank needs more monetary easing measures to spur growth, " said Liu Haiying, chief economist at Shanghai-based hedge fund manager Capital Edge Investment Management Co.

But he said there's no certainty injecting liquidity will prompt companies to borrow more for investment because "as the old saying goes, you can lead a horse to water but you can't make him drink."

Liu said the economy may be growing more slowly than what GDP data has indicated. For 2014, China reported 7.4 percent growth.

With no upside surprises from policymakers, there is little sign of fresh money flowing into the stock market, according to Wu Wenzhe, fund manager of China International Fund Management.   Continuación...