China, HK stocks rise on global rebound, Beijing's policy assurances

lunes 7 de marzo de 2016 00:52 GYT

* CSI300 +0.6 pct; SSEC +0.8 pct; HSI +0.2 pct

* Market now expects IPO reform to be delayed

* Hong Kong has priced in a lot of bad news - analyst

SHANGHAI, March 7 (Reuters) - China stocks looked on track for their fifth straight day of gains on Monday, led by small-caps, after a flurry of reassurances by the country's top leaders that the economy would remain on sound footing despite strains from major reforms.

Hong Kong shares also had a positive start to the week, aided by an upbeat mood across Asia, following Friday gains in U.S. and European markets, and a continued rebound in oil and commodity prices.

China's blue-chip CSI300 index rose 0.6 percent to 3,112.26 points by lunch break, while the Shanghai Composite Index gained 0.8 percent to 2,896.55 points.

In Hong Kong, the Hang Seng index was up 0.2 percent, while the Hong Kong China Enterprises Index rose 1.4 percent.

"Hong Kong has priced in a lot of bad news, yet Shanghai less so. But in short-term trading, moods matter more than reality," wrote Hong Hao, managing director of research at BOCOM International.

"With a strong rebound in commodities, the mood is shifting, and will likely stretch the rebound - till the reality of falling growth sets back in."   Continuación...