Policy steps help China stocks defy global slide, oil slump hits Hong Kong

martes 5 de abril de 2016 00:34 GYT

* CSI300 +1 pct; SSEC +1 pct; HSI -1.4 pct

* Investors weigh the impact of debt-to-swap scheme to banks

* Energy stocks lead HK index lower after oil price drop

SHANGHAI, April 5 (Reuters) - China stocks rose on Tuesday as a series of government support measures and improving economic data revived investors' appetite for riskier assets, though thin trading volume indicated that confidence remains fragile.

But Hong Kong shares dropped, pulled lower by the energy sector against a backdrop of slumping crude oil prices and mixed messages on the outlook for U.S. monetary policy.

Both the CSI300 index and the Shanghai Composite Index rose 1 percent to 3,252.59 points and 3,038.57 points, respectively.

In Hong Kong, the Hang Seng index dropped 1.4 percent, while the Hong Kong China Enterprises Index lost 1.6 percent.

Beijing has unveiled a series of policies to aid China's struggling economy, including more infrastructure investment, tax reform and plans for debt-to-equity swaps.

Chinese Premier Li Keqiang said in a statement on Monday that he expects tax reforms will lower the cost of innovation and help create jobs for more than 10 million university and vocational school graduates.   Continuación...