24 de septiembre de 2014 / 5:03 / hace 3 años

Hong Kong shares up, helped by momentum from China markets

* HSI +0.4 pct, H-shares +1.0 pct, CSI300 +0.9 pct

* Military-related counters continue to be strong

* China Mobile rises on report iPhone 6 in final review

* Macau casinos down on negative outlook on Sept revenue (Updates to midday)

By Grace Li

HONG KONG, Sept 24 (Reuters) - China shares maintained the previous day’s momentum on Wednesday, pulling up Hong Kong markets, with companies linked to the military and railway infrastructure leading gains.

The main share index in Hong Kong, which has had only had four winning sessions in September, was also supported by dovish statements by a Federal Reserve official that the U.S. central bank can keep stimulating its economy as inflation poses little threat.

At midday, the Hang Seng Index was up 0.4 percent at 23,929.19 points. The China Enterprises Index of the top Chinese listings in Hong Kong rose 1.0 percent.

The CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 0.9 percent, while the Shanghai Composite Index was up 0.8 percent at 2,328.00 points.

Both mainland indexes reversed early losses which were rooted in diversion of funds, as eight companies started to take subscriptions on Wednesday for initial public offerings (IPOs).

“The IPO impact is not big as new issuances become normal now,” said Liu Jingde, analyst at Cinda Securities in Beijing. “Some property and banking stocks started to bounce back after dipping to their low points in the recent correction.”

Investors also regained some confidence after a preliminary private survey on China’s manufacturing sector for September came in better than expected on Tuesday.

A subindex for space and defense stocks climbed 3.2 percent, following a similar rise the previous day, to its highest since November 2010.

The industries have been the star performers in the past few months on hopes they would benefit from deepening reforms in state firms and from more government investment in defence.

Companies related to railway infrastructure also jumped, with Inner Mongolia BaoTou Steel Union up 8.7 percent and China Railway Group 3 percent.

The coming bidding process for the production of several different trains will boost rail equipment makers, the official China Securities Journal newspaper said on Wednesday.

China Mobile added 0.7 percent after mainland media reported Apple Inc’s iPhone 6 is in the final stages of review for approval, with results due shortly, quoting a top Chinese government regulator. China Telecom gained 1.7 percent.

Galaxy Entertainment Group and Sands China were still among the top drags on the Hang Seng, slipping 0.9 and 0.4 percent, respectively. Macau gambling revenue for September could see a 14.5 percent year-on-year drop, Barclays said in a note on Tuesday. (Editing by Richard Borsuk)

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