SHANGHAI: China and Hong Kong stocks closed higher on Thursday, tracking a global rebound ahead of planned Russia-Ukraine diplomatic talks, while a string of Chinese companies and state media trying to soothe frayed nerves after recent sell-offs also lifted sentiment.
The blue-chip CSI300 index rose 1.6% to end at 4,292.84, while the Shanghai Composite Index gained 1.2% to 3,296.09.
Asian shares tracked Wall Street higher, as planned diplomatic talks between Russia and Ukraine buoyed sentiment, although analysts warned the rally could be susceptible to a sharp reversal as risks remain.
Dozens of companies in China voluntarily disclosed their strong monthly performance, which was rarely seen before, to stabilise investor confidence. State media also sought to reassure investors, after the country’s financial markets slumped to more than 20-month lows.
“Both on and offshore markets are very oversold,” Hao Hong, head of research at Bocom International, said in a note.
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