China stocks rise on reports of easing in Zhejiang, Hong Kong also up

viernes 27 de febrero de 2015 00:24 GYT

* IT, financial and manufacturing stocks boost indices

* Zhejiang easing measures boost financials

* CSI300 up 4.6 percent for the month

* Hang Seng set for 2.2 percent gain in Feb

SHANGHAI, Feb 27 (Reuters) - China stocks rose on Friday after domestic media reported easing measures for small banks in Zhejiang province, and looked set to post solid gains for the month.

The reports of further reductions in city banks' reserve requirement ratios (RRR) added to expectations that authorities will soon roll out more nation-wide stimulus measures to support the slowing economy.

The People's Bank of China made a system-wide cut to bank reserve requirements on Feb. 5, the first time it has done so in over two years, and said it would cut RRR by an additional 50 basis points for qualified urban and rural banks if they applied for it.

Information technology, financial and manufacturing stocks led indices higher.

Rising costs for call options on the Shanghai Composite Index, along with rising prices for CSI300 index futures also suggested that investors expect stocks to keep marching higher in the near term.   Continuación...