China stocks rise on stimulus optimism; Hong Kong up

lunes 11 de julio de 2016 00:32 GYT
 

* CSI300 +1.1 pct; SSEC +0.9 pct; HSI +1.6 pct

* Moderating inflation sparks stimulus hopes

* Analysts say earnings estimates relatively upbeat

SHANGHAI, July 11 (Reuters) - China stocks rose on Monday after inflation data over the weekend raised hopes the government may deploy more stimulus in the second half of the year to prop up the sluggish economy.

Gains were broad based with manufacturing, mining, and finance and insurance shares all rising. Investors await June lending data this week for evidence of any pick-up in business activity.

"Recently the market has been doing relatively well," said Zhang Qi, analyst at Haitong Securities in Shanghai.

"One factor is the pullback in the inflation data released over the weekend. Another is that recent corporate earnings forecasts have given a good impression."

Consumer prices in June grew at their slowest pace since January, while producer prices extended their decline, reinforcing economists' views more support was needed to help the economy.

June prices rose 1.9 percent from a year earlier, slightly faster than estimates but down from the pace in May, and producer prices fell 2.6 percent, more than the 2.5 percent fall forecast in a Reuters poll.   Continuación...