China stocks gain on banks, Tencent pulls up Hong Kong

martes 8 de abril de 2014 01:03 GYT

* HSI +0.9 pct, H-shares +1.5 pct, CSI300 +1.7 pct

* Tencent recovery pulls up HK indexes

* Hundsun Technologies up 10 pct after Alibaba purchase

By Natalie Thomas

SHANGHAI, April 8 (Reuters) - China stocks rose sharply on Tuesday as banking shares rebounded on stimulus hopes, driving the CSI300 banking subindex to a seven-week high.

Hong Kong stocks stabilised on Tuesday led by a rally in index heavyweight Tencent Holdings Ltd, whose recent volatility has heavily influenced the overall performance of the Hang Seng.

By midday, the CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 1.7 percent, while the Shanghai Composite Index was 1.3 percent higher at 2,086.39 points.

The Hang Seng Index was up 0.9 percent at 22,574.3 points. The China Enterprises Index of the top Chinese listings in Hong Kong gained 1.5 percent.

China's banking subindex climbed 2.2 percent to its highest intraday level since Feb. 20 on market expectations that the government will introduce economic stabilisation policies, analysts said.   Continuación...