China stocks stabilise as c.bank pledges flexible policy; Hong Kong also up

martes 29 de diciembre de 2015 00:38 GYT
 

* CSI300 +0.3 pct; SSEC +0.2 pct; HSI +0.3 pct

* B shares stabilise after regulator clarifies new system

* China c.bank pledges to keep reasonable credit growth

SHANGHAI, Dec 29 (Reuters) - China stocks stabilised on Tuesday after the previous session's more than 2 percent drop, as the central bank vowed to maintain reasonable credit growth and keep the yuan stable.

Hong Kong shares also edged up, but trading remained thin.

The blue-chip CSI300 index rose 0.3 percent, to 3,737.68 points by the lunch break, while the Shanghai Composite Index gained 0.2 percent, to 3,539.87 points.

Investor sentiment calmed after Shanghai-traded, dollar-denominated B shares - whose nearly 8 percent tumble on Monday dragged the overall market lower - rebounded.

In an apparent move to sooth investors, China's foreign exchange regulator said on Tuesday that a new business supervision system to be launched next month won't change the way Chinese individuals use currencies and has nothing to do with capital market fluctuations.

The new system was cited by some analysts as the reason behind the B share slump.   Continuación...