China, HK stocks rebound as dollar tumble ease yuan depreciation fears
* CSI300 +0.8 pct; SSEC +1.1 pct; HSI +1.5 pct
* Yuan depreciation fears ease after dollar tumble
* China sees first mutual fund liquidation this year
SHANGHAI, Feb 4 (Reuters) - China and Hong Kong stocks rebounded on Thursday morning after an overnight tumble in the U.S dollar eased concerns of yuan deprecation, at least temporarily.
China's blue-chip CSI300 index rose 0.8 percent, to 2,972.01 points by lunch break, while the Shanghai Composite Index gained 1.1 percent, to 2,768.15 points.
Hong Kong's Hang Seng index added 1.5 percent, to 19,274.47 points, while the Hong Kong China Enterprises Index gained 2.1 percent, to 8,019.79.
China's central bank set its official yuan midpoint rate at the strongest level since Jan 6, after the dollar index fell to its lowest level in three months.
"The dollar tumble, as well as recent intervention by China's central bank, have eased yuan deprecation fears," Chang Chengwei, analyst at Hengtai Futures said, adding he believes the yuan is still in a downward trend over the long term.
Most stock market sectors in China rose on Thursday. Continuación...