* SSEC 0.5 pct, CSI300 0.5 pct, HSI 0.9 pct
* Shanghai's B share index rebound, easing market fears
* Investor focus back to China economic data
SHANGHAI, Oct 18 China stocks rebounded on
Tuesday as Shanghai's U.S. dollar-denominated B shares
stabilised following the previous day's plunge, and as investors
shifted their focus to a slew of China economic data this week.
Hong Kong equities also rose, aided by a rebound in property
and IT stocks, as some investors hunted for
bargains following sharp falls recently.
Both China's blue-chip CSI300 index and the
Shanghai Composite Index gained 0.5 percent, to 3,293.28
points and 3,056.87 points, respectively.
The market was dragged lower on Monday by a sudden
late-afternoon slump in the B-share index amid yuan
depreciation fears, but the index bounced 1.5 percent on Tuesday
as investors judged the mysterious sell-off was excessive.
"The B-share market has very poor liquidity, so is prone to
high volatility," said Chang Chengwei, analyst at Hengtai
"Since yesterday's market fall was driven mainly by fear,
rather than fundamentals, some investors saw this as a chance to
buy shares at lower prices."
All eyes are on China's economic data to be released this
week, including GDP, new loans, money supply and retail sales,
which investors hope will paint a clearer picture of China's
Economists polled by Reuters expect third-quarter GDP on
Wednesday to show the economy grew 6.7 percent from a
year-earlier, the same as the previous quarter, as a
construction boom offset stubbornly weak exports.
If the economic recovery proves to be "L-shaped", which many
now expect, China's main indexes are likely to be confined in a
narrow trading range, waiting for fresh catalysts, Hengtai's
Most sectors rose in China, with consumer and
industrial stocks leading the gains.
In Hong Kong, the Hang Seng index rose 0.9 percent to
23,239.97 points, while the Hong Kong China Enterprises Index
gained 1.0 percent to 9,636.58.
Trading remained thin as investors remain cautious ahead of
the U.S presidential elections and a possible U.S. rate hike in
(Samuel Shen and John Ruwitch; Editing by Kim Coghill)