China stocks close slightly higher ahead of MSCI decision

martes 14 de junio de 2016 03:11 GYT
 

SHANGHAI, June 14 (Reuters) - China stocks ended modestly higher on Tuesday, as investors remained cautious after a slump earlier in the week and ahead of MSCI's decision on whether to add Chinese shares to one of its flagship indexes.

Investors also worry about China's economic health and are bracing for a possible exit of Britain from the European Union.

Both the CSI300 index and the Shanghai Composite Index gained 0.3 percent, to 3,075.98 points, and 2,842.19 points, respectively. The indexes slumped 3 percent on Monday.

Trading remained sluggish in Shanghai as worries about China's economy deepened after data showed growth in China's fixed-asset investment slowed to a 15-year low.

Although some expect U.S. index publisher MSCI to include Chinese shares to its widely-tracked MSCI Emerging Markets Index later in the global day, many believe any near-term positive market impact will be limited given the time required for global funds to switch their asset allocations.

Most sectors fell, but financial and consumer shares firmed. (Reporting by Samuel Shen and Nathaniel Taplin; Editing by Sam Holmes)