15 de enero de 2016 / 4:47 / en 2 años

China stocks retreat on weak loan data; Hong Kong down on weaker currency

* CSI300 -1.5 pct; SSEC -1.5 pct; HSI -0.8 pct

* China Dec new yuan loan much lower than expected

* HK dollar falls to 4-year low, triggering outflow fears

SHANGHAI, Jan 15 (Reuters) - China stocks lost ground on Friday morning, giving up much of the previous day’s 2 percent gain, as investors continued to reduce equity exposure with weaker-than-expected loan data offering little evidence of an economic recovery.

Hong Kong stocks also fell, led by property shares, as a tumble in the Hong Kong dollar raised fears of a possible increase in interest rates.

The CSI300 index fell 1.5 percent, to 3,172.53 points by lunch break, while the Shanghai Composite Index also lost 1.5 percent, to 2,961.47 points, again breaching the psychologically key 3,000-point mark.

SSEC’s 2,900 points is “a fair trading value” around which the Shanghai market will likely fluctuate with a 400-point range in either directions, according to Hong Hao, managing director at BOCOM International.

“Its close parallel with the NASDAQ bubble (in 2000) suggests it can fall further to 2,500, after a technical reprieve,” Hong wrote on Friday.

“The crowd is still keen to pounce on Shanghai’s great fall, and as such the final stage of market revulsion is yet to come.”

The market was soft on Friday even as the number of China-listed companies whose major shareholders pledged not to reduce holdings in the near term has grown to at least 150.

All main sectors fell, with resources and energy sectors leading the decline.

In Hong Kong, the Hang Seng index dropped 0.8 percent, to 19,657.36 points, the Hong Kong China Enterprises Index lost 1.7 percent, to 8,320.33.

Hong Kong dollar dropped to the lowest level against the U.S. dollar in four years on Thursday, raising concerns of sustained capital outflows.

Shares of Bossini International Holdings Ltd tumbled after the casual wear apparel retailer issued profit warnings, saying earnings for the July-December period could fall as much as 90 percent from a year earlier.

Samuel Shen and Pete Sweeney; Editing by Sam Holmes

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