China, Hong Kong stocks rise sharply on gov't stimulus hopes

miércoles 9 de septiembre de 2015 00:45 GYT

* CSI300 +1.7 pct; SSEC +1.7 pct; HSI +3.0

* Investors expect fresh fiscal stimulus

* SOE reform remain popular theme

SHANGHAI, Sept 9 (Reuters) - China and Hong Kong stocks rallied on Wednesday morning, extending the previous day's gains, encouraged by signs that China will unleash fresh stimulus to support the economy.

But trading in mainland stocks and index futures remained thin, reflecting persistent investor caution, as well as the side effects of the tough medicine prescribed for China's ailing stock market.

China's blue-chip CSI300 index rose 1.7 percent to 3,390.25 points at lunch time, while the Shanghai Composite Index also gained 1.7 percent to 3,224.12 points.

In Hong Kong, the Hang Seng index jumped 3.0 percent, to 21,889.54 points, while the China Enterprises Index, which tracks Chinese companies listed in Hong Kong, surged 4.4 percent to 9,892.30 points.

China's Ministry of Finance said on Wednesday that the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system to support the economy, adding to other steps by authorities to re-energise sputtering growth.

"The rebound is the result of sharp share price falls previously, and the accumulative effect of government supportive measures," said Zhou Lin, analyst at Huatai Securities.   Continuación...