China stocks barely move in spite of improved trade data
SHANGHAI, Sept 8 (Reuters) - China stocks fluctuated in a narrow range on Thursday and finished roughly flat as positive news on the data front was offset by receding hopes for additional monetary policy support.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen was unchanged at 3,339.56, while the Shanghai Composite Index inched up 0.1 percent at 3,095.95 points.
Analysts said the market had already priced in positive trade data as an earlier gauge of the August official Purchasing Managers' Index (PM) indicated the country's economy was steadying. Also, chances for further monetary policy easing are getting slim.
China's imports unexpectedly rose in August for the first time in nearly two years, boosted by coal and other commodities, suggesting domestic demand may be picking up and putting the world's second-largest economy on a more balanced footing. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)
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