China stocks rebound on share-sale ban; Hong Kong also up

jueves 9 de julio de 2015 00:54 GYT
 

* CSI300 +2.4 pct; SSEC +1.3 pct; HSI +3.4 pct

* China bans big shareholders of listed firms from divesting

* Small caps rise sharply on signs of government support

SHANGHAI, July 9 (Reuters) - China stocks stabilized on Thursday morning amid a slew of fresh measures to prop up the market - including a ban on listed companies' big shareholders from selling their holdings - but analysts say it's too early to cheer as the pace of deleveraging accelerates.

The Shanghai Composite index rose 1.3 percent by midday, after dipping into negative territory several times. But the index was still down nearly 4 percent this week. The CSI300 index of China's biggest companies rose 2.4 percent on the day.

Sentiment about small caps , the focus of recent panic selling, improved after China's state margin lender said it was broadening its bailout buying to include them and mutual funds, rather than just blue chips.

Internet information company Leshi and East Money Information, two index heavyweights on Shenzhen's start-up board ChiNext, jumped over 8 percent.

The market also got support from drastic measures unveiled by the securities regulator that ban shareholders with large stakes in listed firms from selling.

But some analysts say it's too early to judge if the government has successfully stemmed the slide in a market where over half of listed companies have halted trading.   Continuación...