China and Hong Kong stocks rebound, led by energy shares

martes 16 de febrero de 2016 00:56 GYT
 

* CSI300 +2.9 pct; SSEC +2.8 pct; HSI +1.6 pct

* Energy shares in China, HK surge on higher oil prices

* China market aided by Premier Li's remarks, loan data

SHANGHAI, Feb 16 (Reuters) - China and Hong Kong stocks extended their rebound on Tuesday, led by energy shares, with investors inspired by a jump in oil prices, a rally in European equities and a stabilising yuan.

Mainland investors also gained confidence from upbeat comments from China's premier, and record-smashing loan data in January, although some traders suspected the rally would be short-lived.

China's blue-chip CSI300 index jumped 2.9 percent, to 3,030.59 points by the lunch break, while the Shanghai Composite Index advanced 2.8 percent, to 2,823.86 points.

In Hong Kong, the Hang Seng Index added 1.6 percent, to 19,228.55 points, while the Hong Kong China Enterprises Index gained 3.0 percent, to 8,099.65.

Chinese Premier Li Keqiang said that China faced great challenges, but there was still great potential and plenty of room to manoeuvre given the country's high savings rates.

Underscoring Beijing's efforts to counter stagnant growth, data on Tuesday showed that Chinese banks extended a record 2.51 trillion yuan ($385.40 billion) of new loans in January, well above expectations, while growth in money supply quickened to a 19-month high.   Continuación...