China, Hong Kong stocks edge up as energy shares jump

jueves 26 de marzo de 2015 00:54 GYT
 

* CSI300 +0.3 pct ;SSEC +0.3 pct ;HSI +0.1 pct

* Oil stocks up on Middle East tension; railway stocks surge

* Nasdaq-style ChiNext fall over 4 pct at one point

SHANGHAI, March 26 (Reuters) - Shares in China and Hong Kong edged higher on Thursday as oil prices bounced, pushing up energy shares.

Both The CSI300 index and the Shanghai Composite Index gained 0.3 percent by the midday break, with the energy index climbing 1.2 percent as oil prices shot up nearly 6 percent after Saudi Arabia and its Gulf Arab allies started air strikes against revels in Yemen.

Oil companies including PetroChina, and Offshore Oil Engineering rose, while China CNR Corp and CSR Corp Ltd surged on expectations of imminent merger of the two train-making giants.

But ChiNext, the Nasdaq-style board for start-ups, plunged over 4 percent, before recovering some of its losses by midday.

"After consecutive sessions of rises, fluctuations are very natural," said Zhang Chen, analyst at Shanghai-based hedge fund manager Hongyi Investment.

"The market is hot, but not yet too crazy. This is a big bull market and we're just mid-way."   Continuación...