Hong Kong shares, like mainland ones, flat after China GDP data

lunes 19 de octubre de 2015 04:07 GYT
 

Oct 19 (Reuters) - Hong Kong stocks were little changed on Monday, reflecting investor composure in the face of weak, but better-than-expected China third-quarter GDP data that offered few signs of a hard landing.

The Hang Seng index was flat at 23,075.61, while the China Enterprises Index gained 0.5 percent, to 10,688.54 points.

China's economic growth slowed to 6.9 percent, dipping below 7 percent for the first time since the global financial crisis, raising pressure on Beijing to further cut interest rates and take other measures to stoke activity.

But there was no panic selling as the China slowdown had been priced in while the quarterly growth data was slightly better than market forecasts of a 6.8 percent rise.

Mainland stock markets were flat on Monday.

Sector performance in Hong Kong was mixed. Gains in energy and telecom shares were offset by losses in property and services stocks.

Shares of Tsingtao Brewery Co Ltd weakened after the Chinese beer maker said it would buy the remaining stake in a loss-making brewery joint venture with Japan's Suntory Holdings. (Reported by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)