China stocks end flat despite upbeat economic data

martes 13 de septiembre de 2016 03:07 GYT
 

SHANGHAI, Sept 13 (Reuters) - China stocks were little changed on Tuesday, with investors shrugging off upbeat economic data that pointed to some success in Beijing's efforts to stimulate the world's second-largest economy.

The CSI300 blue-chip index fell 0.1 percent, to 3,260.33, while the Shanghai Composite Index gained 0.1 percent to 3,023.51 points.

Chinese blue-chip shares had slumped by the most in three months on Monday, in line with a sharp retreat in global markets spooked by talk of a possible U.S. rate hike next week.

China's industrial output grew at the fastest pace in five months in August, while retail sales also beat expectations but investors and analysts had some doubts over whether the improved momentum would be sustainable.

"The delayed impact of earlier policy easing means that a stronger second-half to this year is likely," wrote Julian Evans-Pritchard, China economist at Capital Economics.

"Admittedly, with further monetary easing unlikely in the near term, this uptick in economic activity is likely to fizzle out going into next year."

Most sectors fell, with infrastructure stocks leading the decline. (Reporting by Samuel Shen and John Ruwitch; Editing by Jacqueline Wong)