* CSI300 +0.8 pct; SSEC +1.1 pct; HSI +1.5 pct
* Yuan depreciation fears ease after dollar tumble
* China sees first mutual fund liquidation this year
SHANGHAI, Feb 4 (Reuters) - China and Hong Kong stocks rebounded on Thursday morning after an overnight tumble in the U.S dollar eased concerns of yuan deprecation, at least temporarily.
China’s blue-chip CSI300 index rose 0.8 percent, to 2,972.01 points by lunch break, while the Shanghai Composite Index gained 1.1 percent, to 2,768.15 points.
Hong Kong’s Hang Seng index added 1.5 percent, to 19,274.47 points, while the Hong Kong China Enterprises Index gained 2.1 percent, to 8,019.79.
China’s central bank set its official yuan midpoint rate at the strongest level since Jan 6, after the dollar index fell to its lowest level in three months.
“The dollar tumble, as well as recent intervention by China’s central bank, have eased yuan deprecation fears,” Chang Chengwei, analyst at Hengtai Futures said, adding he believes the yuan is still in a downward trend over the long term.
Most stock market sectors in China rose on Thursday.
“After such a big slump in January, many people are now betting on positive returns in February, so a rebound in stocks around the Chinese Spring Festival is likely,” noted Hengtai’s Chang.
Energy shares rose sharply in China and Hong Kong, aided by an overnight rebound in oil prices. , although real estate stocks fell as investor enthusiasm for new support policies ebbed.
However, partly reflecting waning interest in energy shares on the mainland, China Universal Asset Management Co said it plans to liquidate an exchange-traded fund that buys energy plays including PetroChina and Sinopec, after the fund’s size shrank by more than half over the past seven months.
It would be the first liquidation by a mutual fund this year.
Reporting by Samuel Shen and Pete Sweeney; Editing by Eric Meijer