25 de noviembre de 2015 / 4:38 / hace 2 años

China tech shares offset weak banks, Hong Kong hit by MidEast tensions

* CSI300 -0.1 pct; SSEC +0.2 pct; HSI -0.5 pct

* ChiNext rise to 4-month high on economic restructuring hopes

* Hong Kong market lower after Turkey downed Russian fighter jet

SHANGHAI, Nov 25 (Reuters) - China technology shares rose on Wednesday on hopes of more government support for the sector, offsetting modest weakness in cyclical sectors such as banks and infrastructure-related companies.

But Hong Kong shares, which are more vulnerable to global factors, fell amid rising political tensions in the Middle East after Turkey shot down a Russian warplane near the Syrian border on Tuesday.

China’s CSI300 index fell 0.1 percent to 3,751.75 points by the end of the morning session, while the Shanghai Composite Index gained 0.2 percent to 3,621.90.

Banks fell 0.7 percent and infrastructure dipped 0.3 percent, but Shenzhen’s tech-heavy start-up board ChiNext rose 1.7 percent to a four-month high.

“Despite rising volatility recently, the general trend of the market is still upward,” said Yang Hai, strategist at Kaiyuan Securities.

“The government will likely maintain loose monetary policies to ensure smooth economic restructuring.”

Investors are taking cues from a series of recent government policies aimed at promoting innovation as Beijing increasingly tries to move away from its old growth drivers of exports and investment to an economic model that is more reliant on consumption.

In a sign of growing confidence that China’s stock markets are stabilising, the securities regulator has lifted an order that required brokerages each day to buy more shares than they sell for any proprietary trading.

But China’s crackdown on financial markets in the wake of a stock slump in the summer continued as anti-corruption investigators opened probes into two of China’s largest brokerages and censured four insurance executives.

In Hong Kong, the Hang Seng index and the Hong Kong China Enterprises Index both fell 0.5 percent to 22,476.36 and 10,107.60, respectively.

Almost all sectors in Hong Kong fell. But energy shares were generally up on higher oil prices triggered by the tension in the Middle East.

Shares of Chow Tai Fook Jewellery Group jumped 7 percent, heading for their biggest daily percentage gain since Jan 8, 2014, after the company declared a special dividend, boosting its total dividend payout nearly four times from a year ago.

Reporting by Samuel Shen and Pete Sweeney; Editing by Kim Coghill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below