China stocks fall despite market-soothing measures; Hong Kong shares flat

martes 8 de septiembre de 2015 00:51 GYT
 

* CSI300 -1.6 pct; SSEC -1.4 pct; HSI flat

* Investors ignore fresh market-calming measures

* Weak August trade data does not impact trading

* Outstanding margin loans fall a 12th straight session

SHANGHAI, Sept 8 (Reuters) - China stocks fell more than 1 percent on Tuesday morning despite market-soothing measures announced overnight, as investors continued to sell shares amid economic uncertainty.

But index futures rose in tiny volume after regulators imposed tough trading restrictions. Some traders described the market as comatose, with futures prices unable to reflect bearish sentiment.

The CSI300 index fell 1.6 percent, to 3,198.34 points at lunch break, while the Shanghai Composite Index lost 1.4 percent, to 3,038.05 points.

Hong Kong stocks were almost flat.

Late on Monday, China said it would remove personal income tax on dividends for shareholders who hold stocks for more than a year, a move aimed at encouraging longer-term investment in equities instead of short-term speculation.   Continuación...