China stocks fall on investment rule-change for insurers, Hong Kong shares up
* CSI300 -1.7 pct; SSEC -1.4 pct; HSI +0.4 pct
* Blue-chips fall after insurance investment rules tightened
* Hong Kong rises before market shuts for Christmas break
SHANGHAI, Dec 24 (Reuters) - China's stock market fell more than 1 percent on Thursday morning, as investor interest in blue-chips suddenly cooled after regulators tightened rules for insurers investing in listed firms.
The blue-chip CSI300 index fell 1.7 percent, to 3,802.61 points by lunch break, while the Shanghai Composite Index lost 1.4 percent, to 3,585.02 points.
But Hong Kong stocks ended the holiday-shortened session firmer, helped by an extended rebound in energy shares, joining Christmas cheer in global markets.
The Hang Seng Index added 0.4 percent, to 22,138.13 points, while the Hong Kong China Enterprises Index gained 0.7 percent, to 9,953.21.
Hong Kong markets closed at midday, and will be closed on Friday for Christmas.
On the mainland, blue-chips have been buoyant recently amid signs that cash-rich insurers have embarked on a year-end shopping spree as they aggressively build positions in modestly-valued big-caps - in some cases becoming listed companies' major shareholders. Continuación...