HONG KONG: Hong Kong shares rebounded on Thursday after two days of sharp falls, with news regarding a probe into CEFC China Energy chairman had limited impact on market sentiment.
CEFC Chairman Ye Jianming has been investigated for suspected economic crimes, a person with direct knowledge of the matter said on Thursday. CEFC Hong Kong Financial Investment, which is related to CEFC, plunged nearly 30 percent.
The probe had limited impact on the broader market. The Hang Seng index rose 0.7 percent to 31,044.25, while the China Enterprises Index gained 0.4 percent to 12,428.88.
The sub-index of the Hang Seng tracking energy shares dipped 0.7 percent while the IT sector rose 2.83 percent, the financial sector was 0.56 percent higher and property sector rose 1.51 percent.
The top gainer on Hang Seng was Sino Land Co Ltd up 4.19 percent, while the biggest loser was Want Want China Holdings Ltd which was down 2.27 percent.
The Shanghai Composite Index closed up 0.44 percent at 3,273.75, while the blue-chip CSI300 index gained 0.63 percent to 4,049.09.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.11 percent while Japan's Nikkei index closed down 1.56 percent . The yuan was quoted at 6.3415 per US dollar at 08:16 GMT, 0.28 percent weaker than the previous close of 6.324.
As of the previous trading session, the Hang Seng index was up 3.09 percent this year, while China's H-share index was up 5.7 percent. The Hang Seng has declined 6.21 percent this month, until Wednesday.
The top gainers among H-shares were PICC Property and Casualty Co Ltd up 2.45 percent, followed by Ping An Insurance Group Co of China Ltd gaining 1.62 percent and Postal Savings Bank of China Co Ltd up by 1.44 percent.
The three biggest H-shares percentage decliners were PetroChina Co Ltd which was down 1.63 percent, Sinopharm Group Co which fell 1.4 percent and China Railway Construction Corp Ltd down by 1.2 percent.
About 2.18 billion Hang Seng index shares were traded, roughly 73.1 percent of the market's 30-day moving average of 2.98 billion shares a day. The volume traded in the previous trading session was 2.48 billion.
At close, China's A-shares were trading at a premium of 26.75 percent to the Hong Kong-listed H-shares.
The price-to-earnings ratio of the Hang Seng index was 13.12 as of the last full trading day while the dividend yield was 2.9 percent.
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