* HSI +0.1 pct, H-shares -0.4 pct, CSI300 -0.4 pct
* CSI300FS sub-index down 1 pct on profit taking
* MMG Ltd shares up 6.5 pct on Peru copper mine deal
By Natalie Thomas
BEIJING, April 14 China stocks fell on Monday,
with financial shares losing 1.1 percent as investors locked in
gains after last week's announcement that Hong Kong and China
investors can buy shares in companies listed on each other's
Uncertainty in global markets weighed on investors' minds in
Hong Kong, where shares had a muted morning, hovering around
neutral for most of the first few hours of trade.
By midday, the Hang Seng Index was up 0.1 percent at
23,015.46 points. The China Enterprises Index of the top
Chinese listings in Hong Kong dropped 0.4 percent.
The CSI300 index of the largest Shanghai and
Shenzhen A-share listings was down 0.4 percent, while the
Shanghai Composite Index was down 0.4 percent at 2,121.5
China financial shares began the week with a downward
adjustment in the CSI300 financial sub-index after
it had jumped to its highest intraday level since mid-December
late last week.
The jump came on the news that the Hong Kong and China
securities regulators had reached an agreement to allow
investors in their respective regions to trade shares in each
China Pacific Insurance Group Ltd lost 2.2
percent, while China Citic Bank Corp was also down
The fact that at the moment the market is already quite well
funded, meant that the shares didn't have much space to climb
said Cao Xuefeng, head of research Huaxi Securities in Chengdu.
"The short-term impact of this announcement on funding is
already over; now we're seeing a period of adjustment."
In Hong Kong, securities firms were also down as investors
banked profits from last week while they waited for further
details about how the policy would be implemented.
Haitong Securities Co Ltd dropped 3.5 percent
while CITIC securities Co Ltd shed 2.9 percent.
"A lot of Hong Kong brokerage firms are still trying to
figure out how the new policies will benefit them so the stocks
are jumping up and down more for speculative reasons," said
Jackson Wong, Tanrich Securities Vice President for equity
On the mainland, some of the strongest performers were auto
stocks, with shares in Chongqing Changan Auto
touching 10 percent, their highest daily trading limit, after
the company reported robust earnings for 2013 and predicted
strong net profit growth in the first quarter of this year.
Great Wall Motor Co Ltd also saw a robust
performance, gaining 4.5 percent by lunch, after it published
encouraging sales data for March earlier in the month.
Shares in MMG Ltd surged 6.5 percent, pushing the
stock to its highest intraday level since early December, after
a consortium led by the company purchased an interest in the Las
Bambas copper mine in Peru from Glencore Xstrata in a
$6 billion cash deal.
(Editing by Jacqueline Wong)