China stocks rise as firmer offshore yuan eases depreciation, outflow fears
* CSI300 +1.0 pct, SSE +0.4 pct, HSI
* Financial shares rise
* Strengthening offshore yuan may help offset depreciation fears
SHANGHAI Jan 12 (Reuters) - China stocks rose on Tuesday as financial stocks bounced and the offshore yuan strengthened on suspected state bank intervention, in what could be the latest official move to dampen currency depreciation fears which are rattling Chinese companies.
The CSI300 index rose 1.0 percent, to 3,225.29 points at the end of the morning session, while the Shanghai Composite Index gained 0.4 percent, to 3,028.04 points.
China CSI300 stock index futures for January rose 0.6 percent, to 3,224, 1.3 points below the current value of the underlying index.
"Financial stocks have been under severe pressure recently and so it's not surprising to see a bit of a recovery today," said Zhang Qi, analyst at Haitong Securities in Shanghai.
"But there are still some uncertain factors including the big recent moves in the yuan, and investors are still cautious."
Sharp falls in major Chinese equity indexes in early January have been blamed in part by analysts on the big move down in the yuan in the first week of the year, which intensified fears of further depreciation and risked accelerating capital outflows. Continuación...