China stocks extend rebound, Hong Kong up ahead of Fed decision

jueves 17 de septiembre de 2015 00:56 GYT

* CSI300 +0.3 pct; SSEC +0.5 pct; HSI +0.8 pct

* Anti-graft campaign benefits market in the long term - trader

* Cyber-security shares surge ahead of Xi's Washington visit

SHANGHAI, Sept 17 (Reuters) - China stocks extended their rebound on Thursday morning, led by small-caps, as some investors viewed a deepening anti-corruption campaign in the financial industry as being positive to the market.

Hong Kong stocks also rose as investors consolidated positions ahead of a U.S. Federal Reserve policy decision later in the day. Some analysts said a rise in U.S. interest rates would remove a big uncertainty for investors and support the Hong Kong dollar, which is pegged to the U.S. dollar.

The CSI300 index rose 0.3 percent, to 3,320.54 points at the end of the morning session, while the Shanghai Composite Index gained 0.5 percent, to 3,168.31 points.

Surprising many investors, China's graft watchdog said late on Wednesday that the assistant chairman of China's securities regulator was under investigation for suspected "serious violation of discipline".

The announcement came a day after China's top brokerage CITIC Securities said its general manager and some other senior executives were being probed for alleged insider trading.

"Anti-corruption is good for the market in the long term," said Samuel Chien, a partner of Shanghai-based hedge fund manager BoomTrend Investment Management Co.   Continuación...