REFILE-China stocks jump on regulator's assurance; Hong Kong also gains

lunes 14 de marzo de 2016 02:07 GYT
 

(Refiles to correct spelling in paragraph 4)

* CSI300 +2.7 pct; SSEC +2.6 pct; HSI +1.3 pct

* CSRC's comment on IPO reform, bailout exit removes uncertainty

* Some investors bet on continued China property market recovery

SHANGHAI, March 14 (Reuters) - China stocks jumped nearly 3 percent on Monday morning, with investors encouraged by a regulator's assurance that it was premature to consider withdrawing government bailout funds from the market, and comments that dispelled fears of a flood of initial public offerings.

China's blue-chip CSI300 index rose 2.7 percent, to 3,098.16 points by lunch break, while the Shanghai Composite Index gained 2.6 percent, to 2,882.76 points.

Hong Kong shares also started the week on a solid footing, tracking a rally in global markets as oil prices climbed further.

Sentiment was helped by comments on Saturday from Liu Shiyu, the newly installed chairman of the China Securities Regulatory Commission (CSRC).'

Liu told reporters that China's shift toward a registration system for initial public offerings (IPOs) would "take a relatively long time", and "it's too early to talk about" the exit of government bailout funds.   Continuación...