* SSEC -0.9 pct, CSI300 -0.9 pct, HSI +0.4 pct
* China trade data shows solid growth, but debt worries
* Regulatory concerns deepen after CIRC tightens rules
SHANGHAI, May 8 China's blue chip shares were
poised for a sixth day of decline on Monday, as investor fears
over tightening regulations deepened, cancelling out the impact
of still-solid growth in the country's exports.
The insurance regulator said on Sunday that a sound
regulatory system for companies should be established and
supervision strengthened over the shareholder ownership
structure and the authenticity of their funds.
The China Insurance Regulatory Commission (CIRC) said
loopholes should be plugged, and in its latest bid to curb
"aggressive" insurance money, it barred Anbang Life Insurance, a
unit of Chinese conglomerate Anbang Group, from applying to
issue new products for three months.
Investors are concerned that increased regulatory efforts to
ward off systemic risks to help maintain financial security
would hurt economic growth.
The CSI300 index fell 0.7 percent, to 3,360.27
points at the end of the morning session, while the Shanghai
Composite Index lost 0.6 percent, to 3,083.43 points.
China's April trade data, though missing forecasts, showed
solid growth continuing after a surprisingly robust first
quarter, but the pace is seen tapering off as Beijing turns the
screws on debt risks and a hot property sector.
"The economy is turning a bit more than people anticipated,"
said Julian Evans-Pritchard, an economist at Capital Economics
in Singapore, adding that April's data could surprise on the
downside, similar to recent PMI surveys.
China's central bank has cautiously shifted to a tightening
policy bias in recent months after years of ultra-loose settings
led to an explosive build-up of debt, forcing the authorities to
take steps to defuse bubbles.
The tightening has spilled into corporate China, which is
facing a credit crunch over the coming months as a shrinking
domestic bond market and pressure on banks to clean up leave
firms grappling to refinance $130 billion of debt that comes due
this year, and $248 billion more in 2018.
Chinese property developers are on the hunt for onshore or
offshore funding alternatives in anticipation of further
government measures to rein in soaring house prices.
The sharp correction in the benchmark Shanghai Composite
Index since April 10 was mainly driven by tightening financial
regulations, Xun Yugen, an analyst with Haitong Securities,
wrote in a note.
Sectors fell across the board, led by infrastructure
, and real estate stocks.
In Hong Kong, stocks followed other Asian markets higher, on
investor relief after centrist Emmanuel Macron comfortably won
the French presidential election.
The Hang Seng index added 0.4 percent, to 24,562.06
points, while the Hong Kong China Enterprises Index
gained 0.6 percent, to 9,984.18.
(Reporting by Luoyan Liu and John Ruwitch; Editing by