Chinese stocks up on better-than-expected PMI survey; HK plays catch-up

miércoles 1 de abril de 2015 00:45 GYT

* CSI300 +1.6 pct; SSEC +1.4 pct; HSI +0.7 pct

* Retail investors pile in; some fund managers cautious

* HK's GEM jumps after China relaxes insurers' investment rules

By Samuel Shen and Pete Sweeney

SHANGHAI, April 1 (Reuters) - Chinese stocks rose more than 1 percent on Wednesday after surveys showing the country's factory sector unexpectedly picked up in March, as retail investors continued to flock into a bullish market analysts say will rise further.

Hong Kong stocks also rose, with start-up shares surging, after China allowed insurers to invest in the city's Growth Enterprise Market.

The official Purchasing Managers' Index (PMI), released on Wednesday, edged up to 50.1 in March from February's 49.9, indicating that factory activity is expanding but remained weak.

In a strategy report published on Wednesday, China Southern Asset Management Co said it did not expect strong stimulus measures, but "the trend of monetary easing will continue, with relatively big room for cuts in interest rates and banks' reserve ratios".

The fund manager forecast the market would remain bullish throughout the year.   Continuación...