Hong Kong shares lifted by China Mobile, China stocks inch up

martes 20 de mayo de 2014 00:56 GYT
 

* HSI +0.7 pct, H-shares +0.1 pct, CSI300 +0.1 pct

* China Mobile hits four-month high after Goldman upgrade

* ChiNext gains on expectations of smaller number of IPOs (Updates to midday)

By Grace Li and Chen Yixin

HONG KONG/SHANGHAI, May 20 (Reuters) - Hong Kong shares rose on Tuesday, helped by China Mobile after a broker upgrade pushed shares of the Chinese telecom giant to their highest since the start of 2014.

China shares eked out slim gains in a choppy Tuesday trade, buoyed by ChiNext Composite Index stocks after the country's top securities regulator said it anticipates 100 initial public offerings (IPOs) between June and the end of the year, a smaller amount of than some investors have feared.

Their concern has been that a bigger IPO wave could spur selling of existing stocks, depressing their prices.

By midday, the Hang Seng Index was up 0.7 percent at 22,867.84 points. The China Enterprises Index of the top Chinese listings in Hong Kong was up 0.1 percent.

The CSI300 also inched up 0.1 percent. The Shanghai Composite Index rose 0.2 percent at 2,008.43 points, rebounding from a three-week low on Monday, during which the index briefly fell below the 2,000-point mark.   Continuación...