SHANGHAI, Sept 13 (Reuters) -
China stocks fell on Wednesday, tracking weaker Asian markets as investors braced for key U.S. inflation data while awaiting more clues for stimulus policies to help the world's second-largest economy.
** China's blue-chip CSI 300 Index was down 1% by the midday recess, while the Shanghai Composite Index lost 0.9%.
** Hong Kong's Hang Seng Index slipped 0.2% and the Hang Seng China Enterprises Index declined 0.4%.
** Asian shares were subdued after Wall Street wobbled overnight with markets bracing for the crucial U.S. Consumer Price Index (CPI) report, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook.
** A BofA Securities survey on Asia fund managers showed sentiment on China continues to be insipid. "Easing expectations abound but the sustained lack of a concerted action has pushed risk appetite to rock bottom," the survey said.
** China authorities had introduced a slew of policy measures in recent months to boost investor sentiment and revive the property sector, but failed to drive a sustained rally in the stock market.
** Majority (of the market participants) are looking to either play a wait-and-watch game (36%) or build risk gradually(36%), with 18% citing a preference for opportunities elsewhere, the BofA survey showed.
** Foreign investors sold nearly 5 billion yuan ($686.5 million) of Chinese shares via the Stock Connect so far on Wednesday.
** Shares in information technology, semiconductor makers, and new energy were down between 1.4% and 2.5%. The tech-focused Chinext index dropped 1.5% to hit the lowest level since April 2020.
** However, Chinese shares related to the cross-strait development with Taiwan rose after China disclosed more details of its plan to make southeastern Fujian province a zone for integrated development with Taiwan. ($1 = 7.2831 Chinese yuan) (Reporting by Shanghai Newsroom; Editing by Varun H K)
