Hong Kong, China stocks jump on plans for cross border investment

jueves 10 de abril de 2014 05:36 GYT

* HSI +1.5 pct; H-shares +0.4 pct; CSI300 +1.6 pct

* China's weak exports weigh on early market sentiment

* Cross-border investment rules boost blue chips, dual listings

SHANGHAI, April 10 (Reuters) - Hong Kong shares closed at their highest level in more than three months on Thursday, lifted by news that Beijing's securities regulator will allow cross-border stock investment between Hong Kong and Shanghai.

The announcement also boosted mainland indexes, with the Shanghai composite index reaching a two-month high.

The Hang Seng Index ended up 1.5 percent, its highest close since Jan. 2. The China Enterprises Index of the top Chinese listings in Hong Kong increased 0.4 percent.

The Shanghai Composite Index ended up 1.4 percent at 2,134.3 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 1.6 percent. Both indexes closed at their highest since Feb. 20.

The new rules will allow mainland investors to trade shares in designated companies listed in Hong Kong, and at the same time let Hong Kong investors buy shares in Shanghai-listed firms.

An initial pilot will limit the amount invested in Hong Kong to 250 billion yuan ($40.32 billion) overall, with a 10.5 billion yuan daily quota. Hong Kong will also require mainland investors to be institutions or individuals with 500,000 yuan in their accounts.   Continuación...