July 15, 2016 / 7:16 AM / in 2 years

China stocks flat as solid GDP growth dents hopes for big stimulus

SHANGHAI, July 15 (Reuters) - China stocks closed flat on Friday as better than expected second quarter GDP data appeared to lower the odds for further stimulus from policymakers.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen was unchanged at 3,276.28, while the Shanghai Composite Index was unchanged at 3,054.30 points.

For the week, the Shanghai Composite was up 2.2 percent, and the CSI300 was up 2.6 percent.

On Friday morning, China announced economic growth of 6.7 percent in the second quarter, from a year ago, slightly higher than forecast.

“Today’s better-than-expected GDP print suggests that a massive stimulus package by the government will be unlikely,” wrote economists at ANZ Bank in Hong Kong (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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