China stocks hit fresh 7-yr highs despite bad trade data; Hong Kong bull rages on

lunes 13 de abril de 2015 00:52 GYT
 

* CSI300 +1.3 pct; SSEC +1.5 pct; HSI +0.9 pct

* Weak export data reinforces stimulus hopes

* B shares jump for second trading day

By Samuel Shen and Pete Sweeney

SHANGHAI, April 13 (Reuters) - Chinese stocks rose to fresh seven-year highs on Monday morning, after surprisingly bad export data reinforced expectations the government will unveil fresh stimulus moves to aid the economy.

In Hong Kong, the benchmark Hang Seng Index is on track to rise for an eighth consecutive session on hopes of fresh money inflows, while bargain hunters also pushed Shanghai's dollar-denominated B share index up more than 9 percent for the second trading day.

The bull rages on against the backdrop of weak economic fundamentals, as data released on Monday showed China's exports contracted 15 percent in March from a year earlier. The stunning drop strengthens belief that the government will soon act to boost growth.

"More stimulus measures are needed in the future," said Nie Wen, a strategist at Hwabao Trust in Shanghai.

Tim Shirata, executive vice president of Guild Investment Management Inc, said in a note to clients that more easing measures are on the way so the Shanghai markets fall under the "don't fight the central banks" rubric.   Continuación...