China, Hong Kong stocks rebound on oil price rally, yuan stability

lunes 25 de enero de 2016 00:44 GYT

* CSI300 +0.8 pct; SSEC +1.0 pct; HSI +1.8 pct

* Stock likely stable in short term due to yuan calmness-analyst

* Energy shares surge on oil price recovery

SHANGHAI, Jan 25 (Reuters) - China and Hong Kong stocks rose on Monday morning, led by energy shares, as investors drew optimism from a rally in oil prices and rebounds in global equities.

China's blue-chip CSI300 index rose 0.8 percent, to 3,139.61 points by the lunch break, while the Shanghai Composite Index gained 1.0 percent, to 2,946.58 points.

Hong Kong's Hang Seng index added 1.8 percent, to 19,430.02 points, while the Hong Kong China Enterprises Index gained 1.3 percent, to 8,212.89.

Investor sentiment has improved after Beijing's interventions to stabilise China's yuan currency on both the onshore and offshore markets, while Hong Kong authorities expressed their confidence in the value of the Hong Kong dollar - recently the target of speculative short sellers.

"RMB (yuan) stability is now of paramount importance. As the RMB (yuan) exchange rates calm after recent interventions, stocks are likely to stabilise, and can even stage a technical reprieve in the near term," wrote Hao Hong, managing director of research at BOCOM International.

"Recovering oil prices from the epic snow storm will also help."   Continuación...