Hong Kong shares set for best day in nearly 3 months, China up again

martes 11 de febrero de 2014 00:51 GYT
 

* HSI +1.6 pct, H-shares +2.5 pct, CSI300 +0.5 pct

* Hong Kong and H-shares at one-week high on policy optimism

* Chinese insurers and energy plays lead gains

By Yimou Lee

HONG KONG, Feb 11 (Reuters) - Hong Kong shares are set to post their best daily gain in nearly 3 months on Tuesday, led by Chinese insurers and energy counters on optimism that Beijing will likely unveil more policy that could favor earnings growth in some sectors.

China shares reversed early losses and extended gains after closing at their highest in nearly six weeks on Monday as liquidity concerns eased after the Lunar New Year holiday.

By midday, the Hang Seng Index was up 1.6 percent at 21,925.04 points and appeared on track for its best day since Nov. 18. The China Enterprises Index of the top Chinese listings in Hong Kong gained 2.5 percent to its highest in almost two weeks.

The CSI300 index of the leading Shanghai and Shenzhen A-share listings rose 0.5 percent to its highest since Jan. 6. The Shanghai Composite Index was up 0.4 percent at 2,093.58 points. Both appeared on track for a third straight daily gain.

"Ahead of the National People's Congress, there are some expectations about the upcoming policy initiatives," said Ben Kwong, Hong Kong-based chief operating officer of stockbroker KGI Asia, referring to the March meeting of China's rubber stamp parliament.   Continuación...