China stocks flat at midday as investors await policy leads

miércoles 20 de julio de 2016 00:25 GYT
 

* CSI300 flat, SSEC flat, HSI +0.8 pct

* Finance shares fall on profit taking, volumes weak

* Analysts say market in holding pattern around 3,000

By Nathaniel Taplin

SHANGHAI, July 20 (Reuters) - China stocks were flat on Wednesday amid weak trading volumes as investors sought leads from economic data about possible policy direction in the mainland.

The CSI300 index was unchanged at 3,247.90 points at the end of the morning session, while the Shanghai Composite Index was also unchanged at 3,035.87 points.

Finance shares were lower but real estate shares including Vanke, currently embroiled in a hostile takeover battle, rose. The CSI300 financial sub-index was down 0.2 percent, while the Shanghai Composite property sub-index was up 0.1 percent.

Analysts say equities are stuck in a holding pattern as the market awaits more information following a series of mixed economic indicators released over the past week on growth, inflation and housing. The next possible clues about the economic outlook may come from the Purchasing Managers' Indexes, due Aug. 1.

"I think it's normal, there's been some recent data releases including inflation, and there's also the Vanke situation which is naturally impacting the market a bit," said Zhang Qi, analyst at Haitong Securities in Shanghai.   Continuación...