June 30, 2016 / 8:22 AM / 2 years ago

Hong Kong shares rebound a 2nd day as Brexit fears wane again

June 30 (Reuters) - Hong Kong stocks extended their bounce on Thursday, tracking global markets as fears stemming from Britain’s vote to leave the European Union continued to abate.

The Hang Seng index rose 1.8 percent, to 20,794.37, while the China Enterprises Index gained 1.7 percent, to 8,712.89 points.

For June, both indexes were flat.

During the first half of 2016, the HSI fell 5.1 percent, while the HSCE was down 9.8 percent.

Overnight, the Dow rose 1.6 percent while Britain’s FTSE rallied for the second day, as global markets regained some composure after last week’s shock from the Brexit vote.

All main sectors rose, with financial and property shares leading the gains.

Hong Kong-listed shares of China Vanke, which fell to 1-1/2 year lows on Wednesday amid a power struggle between management and major shareholders, rebounded more than 4 percent.

Some investors viewed the drop as excessive, as Vanke’s second biggest shareholder China Resources Group said on Thursday that it opposed plans by a bigger shareholder to oust the property developer’s board. (Reporting by Samuel Shen and Nathaniel Taplin; Editing by Richard Borsuk)

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