China, Hong Kong stocks rise as Fed rate decision ends uncertainty
* SSEC 0.8 pct, CSI300 0.9 pct, HSI 1.1 pct
* Investors refrained from making big bets ahead of Fed decision
* China property shares surge
SHANGHAI, Sept 22 (Reuters) - China and Hong Kong stocks rose sharply on Thursday, pacing gains in Asian markets, as the Federal Reserve's decision to keep interest rates unchanged eased investor anxiety.
The rally also came after robust overnight gains on Wall Street, and followed a week of extremely low volatility in mainland stocks.
"Volatility had been very low recently because investors dared not make big bets ahead of the Fed rate decision, for fear of nasty surprises," said Wu Kan, head of equity trading at investment firm Shanshan Finance.
"Now, the uncertainty has been removed."
China's blue-chip CSI300 index rose 0.9 percent, to 3,295.25 points by lunch break, while the Shanghai Composite Index gained 0.8 percent, to 3,048.61 points.
Hong Kong stocks are heading for their biggest one-day rise in two weeks, with the benchmark Hang Seng index advancing 1.1 percent, and the Hong Kong China Enterprises Index adding 1.4 percent. Continuación...