China shares dip on economy, yuan jitters; Brexit fears hit Hong Kong

jueves 16 de junio de 2016 01:06 GYT
 

* CSI300 -0.1 pct; SSEC: flat; HSI: -1.9 pct

* China market to suffer from selling pressure - UBS

* Investor show little reaction to new loan data

SHANGHAI, June 16 (Reuters) - China stocks dipped on Thursday as investors turned their focus back to the struggling economy after a brief bargain hunting spree in the previous session.

China's blue-chip CSI300 index fell 0.1 percent to 3,111.95 points by the lunch break, while the Shanghai Composite Index was unchanged at 2,887.09.

Hong Kong shares slumped roughly 2 percent as fears of a possible British vote to exit from the European Union next outweighed relief after the U.S. Federal Reserve struck a more cautious note on interest rates.

UBS strategist Lu Wenjie said fears of further weakness in the yuan were also discouraging investors.

On Wednesday, the yuan briefly hit a more than five-year low against the dollar as the greenback firmed amid growing fears that Britain may vote to leave the EU in the June 23 referendum.

There was little market reaction to the latest data showing China's new yuan loans in May beat forecasts but money supply growth slowed. Like other May data in recent weeks, the figures pointed to areas of both strength and weakness.   Continuación...