China, Hong Kong shares rise as Yellen's remarks raise risk appetite
* CSI300 +1.4 pct; SSEC +1.4 pct; HSI +1.4 pct
* Yellen remarks improve risk appetite
* Oil majors rise on reform expectations
SHANGHAI, March 30 (Reuters) - China and Hong Kong stocks rose more than 1 percent on Wednesday, tracking global markets, as the U.S. Federal Reserve's dovish remarks improved investor risk appetite.
Both China's blue-chip CSI300 index and the Shanghai Composite Index rose 1.4 percent by the lunch break, to 3,178.00 points and 2,961.83 points, respectively.
In Hong Kong, the benchmark Hang Seng Index added 1.4 percent, while the Hong Kong China Enterprises Index firmed 2.1 percent.
Markets scaled back expectations for how fast and far U.S. interest rates might rise this year, after Fed Chair Janet Yellen emphasised global dangers to growth and inflation, and thus the need to proceed "cautiously" on tightening policy.
"Many investors have been haunted by looming U.S. rate hikes, which is like a sword hanging over the head," said Wu Kan, head of equity trading at investment firm Shanshan Finance.
"Yellen's remarks gave investors some breathing space, and improved risk appetite." Continuación...