HONG KONG: China stocks rebounded on Thursday after the securities regulator announced further curbs on short-selling to bolster market sentiment. Hong Kong stocks also jumped.
The China Securities Regulatory Commission said on Wednesday that securities re-lending - in which brokers borrow shares for clients to short sell - would be suspended, while margin requirements would be raised for short-sellers.
China stocks track Asian markets higher
The measures came after a disappointing June consumer inflation print further dampened stock market performance.
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By the midday break, the Shanghai Composite index was up 0.77% at 2,961.99 points, while the blue-chip CSI 300 index climbed 0.98%.
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The CSI’s financial sector sub-index fell 0.75%, while consumer staples, real estate and healthcare rose between 1.73% and 3.07%.
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New energy stocks advanced 3.8% to lead the gains.
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Chinese H-shares listed in Hong Kong rose 1.44% to 6,341.35, while the Hang Seng Index was up 1.54% at 17,740.44.
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The smaller Shenzhen index was up 2.03%, the start-up board ChiNext Composite index rose by 1.98% and Shanghai’s tech-focused STAR50 index climbed 0.83%.
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The Hang Seng energy index edged up 0.1% while the IT sector rose 1.6%.
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Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.18% while Japan’s Nikkei index was up 1.05%.
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The yuan was quoted at 7.2714 per US dollar, 0.06% firmer than the previous close of 7.276.
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