China stocks rise as brokerages rebound, more stimulus seen
SHANGHAI Dec 12 (Reuters) - China stocks closed up on Friday, as brokerage shares rebounded from a slump the previous day.
Mixed economic data issued Friday afternoon did not move the market, but reinforced expectations that the central bank will have to unveil stronger stimulus measures - which have fuelled a 25 percent rally since Nov. 21.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.3 percent, to 3,193.23 points while the Shanghai Composite Index gained 0.4 percent, to 2,938.17 points.
For this week, the SSEC index was up 0.1 percent and CSI300 index rose 2.2 percent.
Among the most active stocks in Shanghai were CITIC Securities, up 3.0 percent to 25.46 yuan; Hainan Airline, down 0.3 percent to 3.43 yuan and China State Construction Engineering, up 0.4 percent to 5.43 yuan.
In Shenzhen, Changjiang Securities Co, up 1.7 percent to 14.68 yuan; BOE Technology, down 0.3 percent to 3.10 yuan and Hebei Steel, unchanged at 3.71 yuan were among the most actively traded.
Turnover in Shanghai Composite shares dropped significantly for the third consecutive day this week and was at the lowest level in two weeks.
Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 1.86 billion yuan of the 13 billion yuan daily quota.
Total volume of A shares traded in Shanghai was 40.9 billion shares, while Shenzhen volume was 20.3 billion shares. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)
© Thomson Reuters 2016 All rights reserved.