15 de diciembre de 2015 / 4:43 / en 2 años

China stocks flat, but property sector up; Hong Kong set for rebound

* CSI300 flat; SSEC +0.1 pct; HSI +0.5 pct

* Property shares jump on policy expectations

* Fosun International shares continue to slide

SHANGHAI, Dec 15 (Reuters) - China stocks were flat on Tuesday morning, with a correction in banking and resource shares countering a surge in property firms that was triggered by policy expectations.

Hong Kong’s Hang Seng index edged up, underpinned by investors betting on a rebound after eight consecutive sessions of decline.

China’s blue chip CSI300 index was unchanged at 3,712.67 points at the end of the morning session, while the Shanghai Composite Index gained 0.1 percent, to 3,523.66 points.

Chinese leaders, meeting ahead of an agenda-setting conference, pledged on Monday to keep the country’s economic growth in a “reasonable range” in 2016 by expanding domestic demand and making supply-side improvements.

Property stocks surged as the government vowed to take more steps next year to help companies lower costs, tackle property inventories and ward off financial risks. An index tracking the sector jumped 3.2 percent.

“An important step towards normalising the economy is having a stable property sector so it is likely a high priority item for the authorities,” wrote Gerry Alfonso, director at Shenwan Hongyuan Securities Co.

Shenzhen’s tech-heavy start-up board ChiNext also had a robust performance, rising 1.9 percent, ahead of the second World Internet Conference due to open on Wednesday in Wuzhen, in eastern Zhejiang province. President Xi Jinping will attend the high-profile event.

But banking, infrastructure and resource shares fell on profit-taking after the previous day’s sharp rally.

In Hong Kong, the Hang Seng index added 0.5 percent, to 21,406.08 points, while the Hong Kong China Enterprises Index gained 1.0 percent, to 9,412.74.

Some investors feel that the HSI’s prolonged decline, illustrated by its eight-session losing streak, is overdone; the index will likely stage a rebound when the U.S. Federal Reserve announces its rate decision later this week, removing uncertainties that have long haunted investors.

Fosun International continued to slide, despite Monday’s appearance of its Chairman Guo Guangchang, who assisted a government investigation over the weekend.

Goldman Sachs has placed Fosun’s rating under review “pending further information and clarity”.

Reporting by Samuel Shen and Pete Sweeney; Editing by Jacqueline Wong

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