China, Hong Kong shares under pressure as Brexit reverberates across markets

martes 28 de junio de 2016 00:40 GYT
 

* CSI300: -0.2 pct; SSEC: flat; HSI: -0.9 pct;

* China c.bank says China's financial risks under control

* Vanke shares fall to fresh 4-month low amid power struggle

SHANGHAI, June 28 (Reuters) - Stocks in China and Hong Kong fell on Tuesday as investors braced for the global financial and economic fallout from Britain's vote to leave the European Union.

China's blue-chip CSI300 index fell 0.2 percent to 3,114.08 points by the lunch break, while the Shanghai Composite Index was unchanged at 2,894.50.

In Hong Kong, the Hang Seng index fell 0.9 percent to 20,050.93, while the Hong Kong China Enterprises Index declined 1.3 percent.

HSBC, Europe's biggest bank, fell 1.4 percent as analysts downgraded earnings forecasts for the sector.

Mainland stocks have been less vulnerable than Hong Kong shares to the Brexit shock, partly due to China's strict capital controls. But any resulting economic slowdown in Europe would weigh further on China's exporters.

The People's Bank of China said late on Monday that the country's debt and financial risks were under control, and that the central bank continue to implement prudent monetary policy and proactive fiscal policy.   Continuación...