China stocks rise as business confidence picks up; Hong Kong rises

lunes 19 de septiembre de 2016 00:53 GYT

* SSEC +0.6 pct, CSI300 +0.7 pct, HSI +0.8 pct

* Business confidence among Chinese entrepreneurs pick up - survey

* Chinese money continues to flow into HK via Connect

SHANGHAI, Sept 19 (Reuters) - China stocks edged higher on Monday morning, as investors returning from the long Mid-Autumn Festival holiday drew optimism from surveys showing improving business confidence.

Hong Kong shares also rose, despite lingering uncertainty around U.S. monetary policy, with an index tracking Chinese firms jumping roughly 2 percent on the back of money inflows from the mainland.

China's blue-chip CSI300 index rose 0.7 percent, to 3,262.07 points by the lunch break, while the Shanghai Composite Index gained 0.6 percent, to 3,021.02 points.

The People's Bank of China published surveys on Sunday showing business confidence among entrepreneurs in China had picked up for the second quarter in a row in 2016.

Fu Xuejun, analyst at Huarong Securities, said that despite the apparent improvement in sentiment, there was limited room for the Chinese market to go up further due to uncertainty in the economy and global liquidity situations.

"I don't see a strong recovery in the Chinese economy, but the global liquidity situation could be more challenging," he said, noting that a possible U.S. rate hike soon could stir global markets, bringing more volatility to domestic shares.   Continuación...