China, Hong Kong shares fall as global investors flee risky assets
* CSI300 -0.8 pct; SSEC -0.8 pct; HSI: -2.5 pct
* China economic data points to Q2 economic risks
* One year after crash, China stocks still expensive - analyst
SHANGHAI, June 13 (Reuters) - China and Hong Kong stocks slumped on Monday morning, with investors joining a global flight from risky assets on lingering economic concerns and rising risks from the UK's possible exit from the European Union.
Sentiment was dampened by worries over China's economic health after data showed slowing growth in fixed asset investments and retail sales, offsetting optimism that MSCI may add Chinese shares to its emerging market index this week.
China's blue-chip CSI300 index fell 0.8 percent, to 3,138.06 points by the lunch break, while the Shanghai Composite Index also lost 0.8 percent, to 2,904.23 points.
Selling was more intensive in Hong Kong, where financial markets are more open and thus more vulnerable to global market volatility. The benchmark Hang Seng index dropped 2.5 percent.
In June 2015, China's "Great China Bubble" burst, triggered by the destruction of margin trades, and sending shockwaves across global financial markets.
"One year after the crash, China's stocks, bonds, property and currency are still expensive," wrote Hong Hao, chief strategist of BOCOM International. Continuación...