China stocks inch up as inflation remains low; Hong Kong take a breather

martes 9 de agosto de 2016 00:34 GYT
 

* CSI300 +0.3 pct; SSEC +0.3 pct; HSI: -0.2 pct

* low inflation means there's still room for easing-analyst

* NSBO upgrade steel sector to positive, citing higher

SHANGHAI, Aug 9 (Reuters) - China stocks edged up on Tuesday morning, with data showing low inflation keeping alive hopes of further monetary policy easing, although real estate shares corrected after strong gains in recent sessions.

Hong Kong shares were roughly flat, pausing after hitting eight-month highs the previous session.

Both China's CSI300 index and the Shanghai Composite Index rose 0.3 percent, to 3,244.31 points and 3,012.89 points, respectively.

Data released on Tuesday shows that China's consumer price inflation accelerated at its weakest pace in six months, although the long decline in upstream prices continued to moderate.

The consumer price index (CPI) rose 1.8 percent in July from a year earlier, while the producer price index (PPI) dropped 1.7 percent.

"Low inflation means there's still room for monetary easing, which is good for stocks," said Chang Chengwei, analyst at Hengtai Futures Co.   Continuación...