China stock markets uneasy with policy easing, slump over 3 percent, drag on HK

lunes 29 de junio de 2015 00:37 GYT

* China stocks open up over 2 pct but end morning down over 3 pct

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* Highlights risk of monetary policy in equity markets

By Pete Sweeney and Samuel Shen

SHANGHAI, June 29 (Reuters) - Chinese stock markets showed no signs of relief on Monday after a surprise double-barrelled policy easing by the central bank, with indexes ending a wild roller-coaster morning session down more than 3 percent.

The People's Bank of China (PBOC) said one of the goals of the weekend policy adjustments, which included simultaneous cuts to interest rates and a targeted reduction to some banks' reserve requirements, was to calm stock market fluctuations.

Instead, Chinese bourses saw one of their most volatile trading sessions to date, with major benchmarks see-sawing in and out of positive and negative territory over the course of minutes.

The CSI300 index fell 3.4 percent to 4,190.30 points by the end of the morning session, while the Shanghai Composite Index lost 3.8 percent to 4,035.48 points.   Continuación...