China stocks rise on Wall Street rally and bargain hunting; HK also up

jueves 27 de agosto de 2015 00:56 GYT
 

* CSI300 +2.1 pct; SSEC +1.6 pct; HSI +2.5 pct

* $3.7 bln worth of net inflows into Shanghai stocks this week

* Goldman say concerns seem quite well priced in Chinese equities

SHANGHAI, Aug 27 (Reuters) - China stocks rose on Thursday as a strong rally on Wall Street helped calm shaky global markets, prompting Chinese and foreign investors to hunt for bargains after a 20 percent plunge over the past week.

But traders said the market remained vulnerable to sudden selloffs, as investors who bought shares using margin financing continue to deleverage.

Sentiment also remains fragile as investors wait to see if Beijing can pull the world's second-biggest economy out of its slowdown.

The flagship Shanghai Composite Index rose as much 3 percent in early trade but ended the morning up 1.6 percent, near where it was at the open.

The index briefly topped the key technical level of 3,000 points, but last traded at 2,972.57 points, suggesting the previous support level may have turned into a line of resistance.

The blue-chip CSI300 index rose 2.1 percent, to 3,089.38 points, also paring some of its early gains.   Continuación...