14 de octubre de 2014 / 4:34 / en 3 años

China shares rise on liquidity signal, HK up on protest crackdown

* Shanghai index up 0.1 pct, CSI300 flat, HSI up 0.7 pct

* PBOC signals lower money rates in open mkt operations

* HK rallies after crackdown on protests - analysts

By Pete Sweeney

SHANGHAI, Oct 14 (Reuters) - Chinese stock indexes recovered slightly by midday on Tuesday, with mainland investors heartened by easier money conditions while Hong Kong gained after a crackdown on protestors.

By midday, the Hang Seng Index was up 0.65 percent at 23,294 points. The China Enterprises Index of the top Chinese listings in Hong Kong gained 0.8 percent. Both indexes have taken heavy hits since the beginning of pro-democracy protests in the city that began in early October.

“The government has taken more control of the protests, releasing positive signals to the market,” said Sam Chi Yung, a strategist at Delta Asia Financial Group in Hong Kong.

“This is the main reason pushing up the index.”

The CSI300 index of the largest Shanghai and Shenzhen A-share listings was flat at midday, while the Shanghai Composite Index was up 0.12 percent at 2,368.80 points.

Other analysts pointed to the lower guidance rate from the People’s Bank of China during open market operations in the morning as a contributor to the mainland’s share rally. The move was seen signalling more monetary easing ahead in response to a slowing economy.

Markets appeared to shrug off speculation that the rollout of the new Hong Kong-Shanghai stock connector scheme may be delayed. The pilot scheme will allow cross-border stock investment between the two markets by individual investors, but analysts say the initial impact on sentiment has been muted as flows will be restricted by quota.

The Shenzhen-based Securities Daily reported that the launch of the connector scheme was likely to be delayed, quoting mainland brokerage sources who said the postponement was due to ongoing “Occupy Central” protests in Hong Kong, which the Chinese government has warned risk damaging Hong Kong’s economy.

Beijing has not announced a firm launch date for the stock scheme, but sources previously told Reuters the target date was in late October, and previous statements by the government implied an October launch date.

The Hong Kong exchange said tests on the trading system will continue through Oct. 25. Given that exchange officials have said they will launch the scheme two weeks after testing is concluded, that implies a November launch.

Investors also declined to put money into real estate companies following reports that central government agencies were cutting fees on some loans used for mortgages.

An announcement by the National Development and Reform Commission that it would allow private investment into previously protected water and environmental industries had little effect on most major listed water companies. But Jiangxi Sanchuan Water Meter Co Ltd provided the biggest lift to the small cap ChiNext growth board in Shenzhen.

“The NDRC conference will not have too much impact on the market, as it is not a brand new policy,” said Xiao Shijun, an analyst at Guodu Securities in Beijing.

“The State Council has said this before, and it has been a strategy to shore up the sloppy economy since earlier this year.” (Editing by Jacqueline Wong)

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