China investors cheer launch date of cross border trade scheme

lunes 10 de noviembre de 2014 00:47 GYT

* CSI300 up 1.29 percent to 2,534.4 points

* SSEC up 1.18 percent to 2,446.6 points

* HSI up 1.65 pct to 23,939.7 points

By Pete Sweeney

SHANGHAI, Nov 10 (Reuters) - China stocks rose by midday on Monday after Chinese and Hong Kong regulators formally announced a launch date for the long-awaited Hong Kong-Shanghai stock market connector scheme.

That has added momentum to a rally on China's stock exchanges, once among the world's worst-performing since the global financial crisis.

The Shanghai Stock Exchange main index is up nearly 15 percent year-to-day, now outperforming the S&P 500 index by nearly five percentage points over the same time period, after spending years in the basement.

The CSI300 index rose 32.25 points, or 1.29 percent, to 2,534.4 at the end of the morning session, while the Shanghai Composite Index gained 28.44 points, or 1.18 percent, to 2,446.6. The Hang Seng index added 387.24 points, or 1.64 percent, to 23,939.7.

Some mainland investors appeared to have positioned themselves well for the launch of the programme, despite reports that the progress was held up by concerns over democracy protests in Hong Kong, or alternatively technical challenges.   Continuación...