China stocks steady on strong brokerages, HK gains
* SSEC flat, CSI300 +0.2 pct, HSI +0.7 pct, HSCE +0.5 pct
* Mainland brokerages up on friendly supporting policies
* Hong Kong shares rise on technical rebound
By Chen Yixin and Brenda Goh
SHANGHAI, Jan 7 (Reuters) - China stocks were steady on Wednesday, with brokerage shares strengthening after the regulator said it planned to relax rules for securities firms to set up subsidiaries and on background requirements for shareholders.
"This indeed has a positive impact on the brokerage sector," said Zhang Gang, analyst at Central China Securities in Shanghai. "And the valuation for the sector has corrected in pervious days - it's time for it to rebound again."
The CSI300 index rose 0.2 percent, to 3,647.81 points at the end of the morning session, while the Shanghai Composite Index was unchanged at 3,351.93 points.
Huatai Securities rose 9.3 percent, Citic Securities jumped 5.1 percent, and Haitong Securities rose 4.7 percent.
The broader market was held back by declines in the small-caps and energy shares, with the ChinNext growth board falling 1.1 percent and PetroChina, the largest oil company by market value in China, declining 1.4 percent. Continuación...