July 26, 2016 / 4:26 AM / 2 years ago

China stocks rise slightly on brokerages, Hong Kong outperforms

* HSI +0.9 pct, HSCE +0.8 pct

SHANGHAI, July 26 (Reuters) - Mainland Chinese stocks edged higher on Tuesday as bargain hunters snapped up brokerage shares, while Hong Kong outperformed, taking cues from a broad Asian rally.

The CSI300 index rose 0.4 percent to 3,244.79 points at the end of the morning session, while the Shanghai Composite Index gained 0.5 percent to 3,029.51 points.

China CSI300 stock index futures for August rose 0.6 percent, to 3,218.8, 25.99 points below the current value of the underlying index and suggesting little investor confidence that the day’s gains can be sustained.

“The market is generally in a standstill, with investors focusing on individual hot stocks,” said Gang, chief equity analyst at Central China Securities in Shanghai.

“First-half data shows the economy is stabilising, with the market increasingly expecting no immediate fresh monetary easing steps,” he said.

Founder Securities rose 0.8 percent. The mid-size brokerage has seen its share price more than halved over the past year as the company was investigated by stock regulators for suspected irregularities.

Top brokerage Citic Securities rose 0.5 percent, with its share price having also suffered from regulatory investigations.

The Hang Seng index added 0.9 percent to 22,192.01, while the Hong Kong China Enterprises Index gained 0.8 percent to 9,102.47.

The index measuring price differences between dual-listed companies in Shanghai and Hong Kong stood at 127.12.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.

The northbound quota for the Hong Kong-Shanghai Stock Connect, currently set at 13 billion yuan, saw net inflows of 0.30 billion yuan.

Total volume of A shares traded in Shanghai was 7.90 billion shares, while Shenzhen volume was 10.00 billion shares.

Total trading volume of companies included in the HSI index was 0.8 billion shares.

Reporting by Lu Jianxin and Pete Sweeney; Editing by Kim Coghill

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