China stocks fall despite sound economic data; HK also down

miércoles 15 de julio de 2015 00:54 GYT
 

* CSI300 -2.4 pct; SSEC -2.4 pct; HSI -0.4 pct

* Investors ignore better-than-expected Q2 GDP data

* Small caps set to end four-day winning streak

SHANGHAI, July 15 (Reuters) - China stocks fell early on Wednesday, as the market's rebound from last Thursday prompted heavy selling in spite of better-than-expected economic data.

Small caps led the decline after four consecutive sessions of gains, but banking shares were firmer following the previous day's losses.

The CSI300 index fell 2.4 percent, to 4,012.25 points at the end of the morning session, while the Shanghai Composite Index lost 2.4 percent, to 3,830.49 points.

Stocks also fell in Hong Kong, with the benchmark Hang Seng index dipping 0.4 percent.

After plunging by a third since mid-June, the mainland market has stabilised following a slew of government measures aimed at stemming the free-fall.

"The government has done its job, and the market is going back to its own tempo," said Qi Yifeng, analyst at CEBM Group Ltd.   Continuación...