China stocks rise again, led by big caps; HK also up

jueves 23 de julio de 2015 00:23 GYT

* CSI300 +1.3 pct; SSEC +1.3 pct; HSI +0.6 pct

* State margin lender reaffirms its support to the stock market

* Telecom operators fall in HK after government calls for fee cuts

SHANGHAI, July 23 (Reuters) - China stocks extended their rebound on Thursday morning, with the Shanghai Composite index set to rise for the sixth consecutive session, led by gains in blue chips.

The Hong Kong market, which has been moving mostly in tandem with its mainland counterpart, also gained by midday.

Sentiment among Chinese investors was lifted, after China Securities Finance Corp, the state margin lender tasked with propping up wobbly share prices, told state media on Thursday that it would continue to support the market, while denying it had sold shares in certain companies.

The CSI300 index rose 1.3 percent, to 4,212.45 points at the end of the morning session, while the Shanghai Composite Index also gained 1.3 percent, to 4,078.90 points.

The market continued to experience relatively low volatility, offering further signs that government bailout measures -- including the setup of a bailout fund, a ban on share sales by major shareholders, and restrictions on short selling activities -- have finally calmed investors.

"The key takeaway remains the normalization of the overall market," said Gerry Alfonso, director of Shenwen Hongyuan Securities.   Continuación...