Hong Kong stocks rebound on fresh gov't support in China
HONG KONG, July 9 (Reuters) - Hong Kong stocks jumped on Thursday, snapping a four-day losing streak, as mainland Chinese stocks rebounded after a flurry of rescue measures from the Chinese government.
The Hang Seng index rose 3.7 percent to end at 24,392.79 points, its biggest one-day gain since April 8.
The China Enterprises Index climbed 3.1 percent in the biggest gain since April 13, to 11,446.37 points.
China shares rebounded sharply on Thursday, with the Shanghai Composite index posting its biggest percentage gain in six years, as a fresh round of government support measures stemmed panic selling.
But analysts said it was too early to tell if the worst was over.
Hong Kong Exchanges and Clearing, led gains in the Hong Kong blue-chip index, rising 14.9 percent. It was followed by China Resources Land surging 11.8 percent and China Overseas Land, which was up 10.7 percent.
Chinese brokerages rebounded, after plunging sharply on concerns over their profitability amid the steep decline in equity markets. Guotai Junan jumped 34.4 percent, China Galaxy Securities surged 23.9 percent and CITIC Securities was up 17.5 percent. (Reporting by Donny Kwok; Editing by Kim Coghill)
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