5 de agosto de 2016 / 4:56 / hace un año

China stocks flat despite Vanke excitement; HK rises on UK easing

* CSI300 +0.1 pct; SSEC -0.1 pct; HSI: +1.5 pct

* Chinese data in coming weeks likely show steady growth-polls

* Property shares firm as Vanke jumps on Evergrande purchase

SHANGHAI, Aug 5 (Reuters) - China stocks were little changed on Friday and on track to end the week roughly flat as worries about the economy and regulators’ crackdown on speculation keep investors on the sidelines.

But Hong Kong shares follow other Asian markets higher after the Bank of England launched a larger-than-expected monetary stimulus package.

China’s blue-chip CSI300 index inched up 0.1 percent to 3,203.80 points by the lunch break, while the Shanghai Composite Index dipped 0.1 percent to 2,979.38.

Turnover has been thin recently, as regulators have tightened supervision over speculative trading, while risk appetite has been curbed by few signs of economic recovery and questions about the extent of further stimulus.

A flurry of Chinese data in coming weeks will likely paint a picture of broadly steady growth, Reuters polls show, but tepid demand, slowing investment and rising debt levels remain pressing concerns for the world’s second-largest economy.

Amid concerns about growing credit risks, China’s central bank may be reluctant to cut interest rates or banks’ reserve requirements anytime soon unless there are clear signs of a renewed eocnomic downturn, Capital Economics said in a note on Thursday.

The real estate sector was in the spotlight on Friday, rising over 1 percent as a high-profile battle for control of Chinese developer Vanke saw yet another twist.

Vanke shares rose over 3 percent in both Shenzhen and Hong Kong after announcements that rival China Evergrande Group had bought a nearly 5 percent stake.

The Evergrande purchase is the latest round in a power tussle that has seen Vanke try to fend off a potential hostile takeover by privately owned conglomerate Baoneng Group, a battle that has drawn the scrutiny of regulators.

The news stirred interest in related shares.

China Calxon Group, majority owned by Evergrande, surge 7 pct, while Evergrande’s Hong Kong-listed shares jumped 5.4 percent.

Hong Kong shares rose sharply as the BOE’s easing sparked a global rally in riskier assets.

Both the Hang Seng index and the Hong Kong China Enterprises Index gained 1.5 percent to 22,153.5 and 9,135.7 points, respectively.

For the week, the HSI looked set for a gain of 1.2 percent and the HSCE nearly 2 percent.

HSBC Holdings Plc’s Hong Kong-traded shares continued to rise, hitting six-month highs, in a rebound fuelled by the lender’s announcement on Wednesday that it would buy back up to $2.5 billion of its shares in the second half of 2016.

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