* HSI -0.5 pct, H-share -1.0 pct, CSI300 +0.4 pct
* Media-related shares up on Shanghai-Hong Kong stock pilot
* FDI slips 0.4 pct yr/yr, sparking worries about economy
* New home prices fall mth/mth for third straight month
By Chen Yixin and Pete Sweeney
SHANGHAI, Aug 18 China's stock indexes rose
moderately on Monday, with the Shanghai Composite Index touching
its highest since December 2013 even amid weak investment and
housing data, but home price slides on the mainland dampened
shares in Hong Kong.
By midday, the CSI300 index of leading Shanghai
and Shenzhen A-share listings was up 0.4 percent and the
Shanghai Composite rose 0.4 percent to 2,235.44 points,
easing off its highest level since Dec 2013.
In Hong Kong, however, the HSI index was down 0.5
percent at 24,838.4 points, with the China share sub-component
underperforming to lose nearly 1 percent.
China's property prices slid for a third straight month in
July, but shares in property developers -- many of which are
index heavyweights -- evinced no particular reaction, rising in
line with their broader indexes.
However, China Baoan Group managed to be the
lead supporter of the CSI300 index's rise, based on ongoing
speculation in the stock following June reports that it would
reallocate its investments out of real estate toward new energy,
Media-related companies posted big rises in Shanghai and
Shenzhen on Monday, a sector mainly dominated by small- and
medium-sized enterprises (SMEs) in China, with Shanghai Ganglian
E-Commerce Holdings jumping 7.7 percent and
Guangdong Guangzhou Daily Meida up 8.7 percent.
"The media sector was boosted by the upcoming Shanghai-Hong
Kong Stock Connect pilot programme," said Xiao Shijun, an
analyst from Guodu Securities in Beijing, with investors betting
that foreign capital allowed to flow into mainland exchanges
will favour the sector when the pilot programme officially
Analysts said that investors were still wary about economic
stability and have held back from aggressive moves given mixed
macroeconomic data in July.
China drew $71.1 billion in foreign direct investment (FDI)
in the first seven months of 2014, down 0.4 percent from a year
earlier and 17 percent lower month-on-month.
"The set of weak (China property) data worried investors and
that helped trigger selling on property stocks such as Sun Hung
Kai Properties and Cheung Kong, which have big scale property
projects on the mainland," said Alfred Chan, chief dealer at
Hong Kong-based Cheer Pearl Investment.
"Banks which provide financing to developers are under
selling pressure as investors are concerned over potential risks
of escalating bad debt."
Sun Hung Properties fell 1.5 percent in its
biggest drop in more than two weeks, and Bank of China
was also down 1.1 percent in its biggest slide since August 1.
(Additional reporting by Donny Kwok in HONG KONG and the
Shanghai Newsroom; Editing by Jacqueline Wong)