China, Hong Kong stocks rise, helped by lower bond yields, insurance deal

jueves 11 de agosto de 2016 00:56 GYT

* CSI300 +0.4 pct; SSEC +0.1 pct; HSI +0.2 pct

* Drop in treasury yields makes blue-chips appealing - trader

* Acquisitions in New China Life stir interest in financials

SHANGHAI, Aug 11 (Reuters) - China stocks were firm on Thursday morning while Hong Kong shares hovered around eight-month highs, as a further decline in Chinese and global bond yields increased the appeal of blue-chips.

Financial plays were strong, aided by acquisitions of stakes in New China Life Insurance .

China's blue-chip CSI300 index rose 0.4 percent, to 3,255.58 points by the lunch break, while the Shanghai Composite Index gained 0.1 percent, to 3,021.44 points.

In Hong Kong, the Hang Seng index added 0.2 percent while the Hong Kong China Enterprises Index gained 0.8 percent.

China's benchmark 10-year government bond yields fell again on Thursday, hitting a fresh low since the 2009 global financial crisis, taking cues from slides in global yields.

"Government bond yields are perceived as risk-free rates. If these yields fall, stocks with low valuations would become more attractive, especially those with high payout ratios," said David Dai, investor director at Nanhai Fund Management Co.   Continuación...