China, Hong Kong shares rise on policy hopes, casino stocks up

miércoles 29 de octubre de 2014 01:05 GYT

* HSI +1.4 pct, H-shares +1.8 pct, CSI300 +1.2 pct

* China transport stocks lead gains in the mainland

* Hong Kong gambling shares up after Wynn Macau earnings

HONG KONG, Oct 29 (Reuters) - China and Hong Kong shares rose more than 1 percent on Wednesday, heading for a second straight day of gains, on hopes of more favourable policies from the Chinese government, with tranportation stocks leading gains for mainland equities.

At midday, the Shanghai Composite Index was up 1.4 percent to the highest level in two weeks, 2,370.1 points. The CSI300 of the leading Shanghai and Shenzhen A-share listings gained 1.2 percent.

In Hong Kong, the Hang Seng Index advanced 1.4 percent to 23,839.22 points, its highest level in more than a month. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 1.8 percent.

China markets are "back on an uptrend track after consolidating the previous gains," said Zhang Yanbin, an analyst at Zheshang Securities in Shanghai. "The market is betting on further policy support from the government."

"For example, investors are waiting for more stimulus measures from the central bank to support the market in the fourth quarter," Zhang said, adding that a government pledge to promote rule-of-law should "generate dividends in the longer term."

Transportation-related stocks led gains on the mainland. China Eastern Airlines Corp Ltd and COSCO Shipping Co Ltd both climbed 9.9 percent, while China Shipping Development Co Ltd shot up by the 10 percent daily limit.   Continuación...