China stocks fall after weak Dec lending data; property, consumption drop Reuters 2 minute read SHANGHAI, Jan 13 (Reuters) - China stocks fell on Thursday after new bank lending in China fell more than expected in December from the previous month, led by property developers and consumption stocks. The CSI300 index (.CSI300) fell 0.6% to 4,818.76 at the end of the morning session, while the Shanghai Composite Index (.SSEC) lost 0.3% to 3,586.29. The Hang Seng index (.HSI) added 0.1% to 24,421.83. The Hong Kong China Enterprises Index (.HSCE) lost 0.1% to 8,603.07. ** Chinese banks extended 1.13 trillion yuan ($177.56 billion) in new yuan loans in December, down from 1.27 trillion yuan in November, but lending for the full year of 2021 set a record. read more . ** China"s inflation data rose slower than expected in December, while the country is battling with is latest outbreaks of COVID-19, with the Omicron variant detected in several cities. read more ** "Although the Omicron outbreak and lower CPI inflation in December increase the likelihood of a slight cut in the PBoC"s policy rates in the near term, we believe the space remains quite limited, and the impact of a rate cut may also be quite small, especially if the long-term LPR is not revised down," said Nomura in a note. ** Real estate developers (.CSI000952) dropped 2%, while consumer staples (.CSICS) and information technology (.CSIINT) lost 1.3% and 0.9% respectively. ** However, energy stocks (.CSIEN) gained 2.3%, with coal miners (.CSI000820) up 2.8%. ** Hong Kong shares edged up on support of index heavyweight AIA gain. ** The Hang Seng Tech index (.HSTECH) declined 1.5%, with Tencent Holdings (0700.HK) down 1.4%. ** However, insurer AIA Group (1299.HK) rose 1.7% to become the biggest point contributor lifting the Hang Seng Index. ** Hang Seng Composite Index-Energy (.HSCIE) gained 2.5%, with PetroChina Co Ltd up 2.1% after it forecasted strong profit in 2021 on higher crude prices. ** Mainland developers listed in Hong Kong (.HSMPI) tumbled 3%, led by a 16% decline in Sunac China Holdings Ltd (1918.HK) after it planned sale of 452 million new shares for repayment of loans and general corporate purposes. read more Reporting by Shanghai Newsroom; editing by Uttaresh.V
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