HONG KONG: China stocks pared early losses and rebounded strongly on Monday, as investors pinned hopes on policy easing and stimulus measures for the capital market. Hong Kong shares also traded higher driven by Tencent ahead of its first-quarter earnings.
China’s blue-chip CSI 300 Index rose 1.55%, while the Shanghai Composite Index went up 1.17%, both snapping a four-day losing streak.
Hong Kong’s Hang Seng Index and the Hang Seng China Enterprises Index jumped 1.75%, each.
Shanghai Stock Exchange will hold a meeting with banks, insurance, funds and brokerages on Wednesday, discussing “facilitating the valuation improvement and high-quality development of the financial industry while serving Chinese modernization,” the official Shanghai Securities News reported.
Investors turned to anticipate more supportive policies from Beijing to make sure the country economic recovery was on track after disappointing April trade, inflation and credit data last week.
The country’s central bank on Monday rolled over maturing medium-term policy loans while keeping interest rates unchanged, despite growing concerns on the subdued recovery.
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