China stocks rise, banks lead; HK shares mixed

miércoles 11 de marzo de 2015 00:51 GYT

* CSI300 +0.3 pct; SSEC +0.3 pct; HSI -0.2 pct

* China stocks up on signs of fresh money inflows

* Hong Kong shares affected by gloom in global markets

SHANGHAI, March 11 (Reuters) - China's stock market edged up on Wednesday morning, led by financial shares on signs that fresh money is flowing into blue chips after their recent correction.

But Hong Kong's benchmark index gave up early gains and ended the morning lower, tracking weaker global markets.

The number of new stock accounts opened last week in China reached the highest level in five years, while in February, 20 new accounts were opened under the Qualified Foreign Institutional Investor (QFII) scheme, a sign of growing interest by foreign investors, state media reported on Wednesday.

In addition, the head of China's Ministry of Human Resources and Social Security told a press conference in Beijing on Tuesday that China's pension fund, which currently can only be invested in treasuries and bank deposits, may be allowed to invest in riskier assets, including stocks.

"Some investors are buying blue chips again after their recent falls, helping offset the downbeat mood from overseas markets," said Yu Guoxiang, analyst at Galaxy Securities in Wuhan. "The prospect of pension fund entering the market also gives some psychological support."

The CSI300 index rose 0.3 percent to 3,532.13 points at the end of the morning session, while the Shanghai Composite Index gained 0.3 percent to 3,295.90 points.   Continuación...