China, Hong Kong stocks rise as yuan depreciation fears ease

viernes 14 de agosto de 2015 00:52 GYT
 

* CSI300 +0.6 pct; SSEC +0.8 pct; HSI +0.2 pct

* Calms returns after c.bank eases fears on yuan path

* Restructuring of state firms draws renewed interest

SHANGHAI, Aug 14 (Reuters) - China stocks climbed on Friday morning, with the Shanghai market heading for its biggest weekly rise in two months, as investors turned bullish after the central bank soothed fears created by the yuan's shock devaluation.

The yuan held steady against the dollar on Friday after suspected intervention by the central bank, who said on Thursday there was no reason for it to fall further.

"Yuan devaluation suddenly became a concern for stock investors earlier this week, but now this issue is fading out of their radar," said Qi Yifeng, analyst at consultancy CEBM.

"Some bold investors are going back into the market, chasing hot concepts, but I don't think they would hold the shares for a long time."

The Shanghai Composite Index gained 0.8 percent, to 3,987.57 points, bringing the week's gain to 6.5 percent, the most since early June. The CSI300 index rose 0.6 percent.   Continuación...