SHANGHAI, Sept 8 (Reuters) - China shares were mixed on
Wednesday as central bank officials vowed to maintain prudent
monetary policy, while state media said the country's long-term
economic policy remains unchanged.
The CSI300 index fell 0.3% to 4,980.55 points at
the end of the morning session, while the Shanghai Composite
Index gained 0.1%, to 3,679.18 points.
The Shanghai Composite Index hit its highest in six months
The Hang Seng index dropped 0.5% to 26,217.38 points.
The Hong Kong China Enterprises Index lost 0.5% to
** China's central bank officials said liquidity supply and
demand will remain basically balanced in coming months and China
will maintain prudent monetary policy and not resort to
** Based on the message, Nomura lowered the probability of a
targeted reserve requirement ratio (RRR) cut in
September-October to 50% from 70% previously.
** "The PBoC could opt to use some alternative low-profile
and more targeted tools for supporting groups such as SMEs,"
said Nomura in a note, citing small-and-medium enterprises.
** State media outlet People's Daily said on Wednesday
China's long-term economic policy remains unchanged and
regulations on its industries are to promote their healthy
** The consumer staples sub-index, the
semiconductor sub-index and the machinery sub-index
fell 1.4%, 1%, and 1.6%, respectively.
** Resource-related stocks jumped 2%.
** In Hong Kong, the tech sub-index dropped 0.9%,
while the financials sub-index and the comsumer staples
sub-index both went down 1%.
** China Evergrande Group rose 0.8% before falling
more than 2% in morning trading, after Fitch Ratings cut the
ratings of the indebted developer and two of its subsidiaries on
Wednesday, the latest in a series of downgrades targeting the
(Reporting by Shanghai Newsroom; editing by Uttaresh.V)