China stocks pause after 6-day rally, Fed news has no impact
SHANGHAI, March 19 (Reuters) - Chinese stocks took a break from a six-day rally on Thursday, when most Asian stock markets had solid gains after the Federal Reserve indicated it won't start raising U.S. interest rates for some time.
The China market, which is largely insulated from global capital markets due to tight capital controls, gave muted response to the Fed's remarks.
On Thursday, the mainland market saw a correction in financial stocks but gains in industrial companies as investors bet on fresh government stimulus to support the struggling manufacturing sector.
Analysts said there are signs that China could see a resumption of its recent bull run.
Last week, net inflows into securities deposit accounts totalled 818.7 billion yuan ($132.17 billion), the highest weekly increase on record, while 1.38 million new stock trading accounts opened during the first two weeks of March, exceeding February's total.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.2 percent, to 3,839.74, while the Shanghai Composite Index gained 0.2 percent, to 3,582.27 points.
Among the most active stocks in Shanghai were Bank of China , down 1.2 percent to 4.28 yuan; Hainan Airline , down 0.2 percent to 4.32 yuan and China State Construction, up 4.0 percent to 6.82 yuan.
In Shenzhen, BOE Technology, down 1.5 percent to 3.83 yuan; TCL Corp, up 0.7 percent to 5.83 yuan and Pangang Group, up 1.3 percent to 3.78 yuan were among the most actively traded.
Total volume of A shares traded in Shanghai was 53.6 billion shares, while Shenzhen volume was 31.1 billion shares. (Reporting by Samuel Shen and Pete Sweeney; Editing by Richard Borsuk)
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