SHANGHAI: China shares rose on Monday, led by Shanghai's tech focussed STAR Market amid reform expectations, while Hong Kong shares gained on sustained rebound in technology shares.
** China's bluechip CSI300 index rose 0.4% to 4,839.22 at the end of the morning session, while the Shanghai Composite Index gained 0.3% to 3,588.40.
** In Hong Kong, the Hang Seng index added 0.8%, while the Hong Kong China Enterprises Index gained 1.2%.
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** Shanghai's STAR rose 1.3% from near eight-month lows, after China's securities regulator said it would pilot market-making on the Nasdaq-style market, in a bid to deepen reforms and improve liquidity.
** In Hong Kong, the Hang Seng Tech Index is set to rise for the third consecutive session, up nearly 2% by the lunch break.
** The index has gained more than 7% from record lows hit last Thursday, as some investors think the sell-off in Chinese tech shares - fuelled by concerns of Beijing's crackdown - is overdone.
** Shares in China Life Insurance Co fell nearly 2% in both China and Hong Kong, after Chinese Central Commission for Discipline Inspection (CCDI) said on Saturday that it had placed China Life's Chairman Wang Bin under investigation.
** Citi analysts said the news could "cast a shadow" over China Life's share price, as "investors may have concerns over the insurer's corporate governance as well as potential business disruptions brought by the Chairman change".
** Shares of Chinese property developer Shimao Group Holdings jumped.
** Shimao Group has put on sale all of its real estate projects, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported.
** Shares of rival Longfor Group Holdings also rose sharply, after the developer proposed to spin off and separately list its unit Longfor Intelligent Living Ltd.
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