SHANGHAI: China and Hong Kong stocks had mixed morning sessions on Monday as depositors got opposing visions on the implications of a deposit insurance draft plan, with bank shares in Shanghai growing even as Hong Kong dealers continued to sell them off.
The mainland market’s rally petered out after the release of a manufacturing surveys showing growth in Chinese factories stalled in November.
Earlier, mainland markets had risen as investors saw hope for more liquidity injections going forward, even as Hong Kong looked set to post its largest decline since October as punters there look skeptically at fundamentals.
China issued draft regulations on Sunday to introduce a bank deposit insurance system for the first time, the latest in a series of steps to fully liberalise interest rates and allow banks to compete on a wholly commercial basis.
The CSI300 index rose 1.3 percent, to 2,845.47 points at the end of the morning session, while the Shanghai Composite Index gained 0.7 percent, to 2,702.39 points.
The Hang Seng index dropped 1.8 percent, to 23,559.56 points; the Hong Kong China Enterprises Index lost 1.4 percent, to 10,989.22.
The index measuring price differences between dual-listed companies in Shanghai and Hong Kong (which is dominated by mainland banks) stood at 109.41, its highest level since mid-2013 as the two markets continued to diverge on pricing.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
