(Corrects fifth paragraph to drop extraneous word ‘spur’)
* CSI300 +1.2 pct, SSEC +0.7 pct HSI +0.4 pct, HSCE +1.1 pct
* Chinese brokerages rebound to lead gains
* Energy shares up after oil surges in the global market
By Chen Yixin and Pete Sweeney
SHANGHAI, Dec 2 (Reuters) - China stocks rose on Tuesday led by rebounding brokerage shares, with mainland analysts expecting that domestic indexes will extend their gains as Beijing steps up stimulus to reinvigorate economic growth.
“The market is still in a bullish period, although the index could meet some resistance around 2,700 points,” said Liu Jingde, analyst at Cinda Securities in Beijing.
The CSI300 index rose 1.2 percent, to 2,852.31 points at the end of the morning session, while the Shanghai Composite Index gained 0.7 percent, to 2,699.14 points.
The Hang Seng index added 0.4 percent, to 23,449.24 points, recovering after a rocky Monday, while the Hong Kong China Enterprises Index gained 1.1 percent, to 10,938.92.
The mainland markets have rallied since China unexpectedly cut benchmark lending rates two weeks ago as authorities sought to re-energise a tottering economy.
Almost all 19 listed mainland brokerages rose on Tuesday, rebounding from Monday’s sharp drop, with Hong Yuan Securities Co and Guoyuan Securities Co jumping their 10 percent daily limit.
Energy shares led gains in the morning session after a rebound in crude oil prices following a massive drop of more than 10 percent last Friday.
Casino shares weakened after Macau’s gambling revenue fell 19.6 percent in November on an annual basis, the sixth consecutive drop as China’s attempt to crack down on corruption.
Among the most active stocks in Shanghai were Minsheng Bank , up 3.62 percent to 7.45 yuan; Bank Of China , down 2.07 percent to 3.31 yuan and Everbright Bank , down 0.77 percent to 3.88 yuan.
On Hong Kong’s main board, those trading vigorously included CCT Land, up 5.6 percent to HK$0.02, South East Group , down 5.6 percent to HK$0.34 and Bank Of China , unchanged at HK$3.91.
In Shenzhen, Changjiang Securities, up 5.1 percent to 10.34 yuan, and BOE Technology Group, up .4 percent to 2.76 yuan.
Additional Reporting by Shanghai Newsroom; Editing by Shri Navaratnam