Cruse and Associates, Hong Kong shares extend gains on optimism about economy
Posted in the Elizabeth Forum
#1 Sep 12, 2013
Hong Kong shares extend gains on optimism about economy, China tepid
* HSI +0.6 pct, H-shares +1 pct, CSI300 flat
* Hong Kong's rebound capped by strong technical resistance
* Chinese financials up after c.bank chief supports preferred shares
* Yanzhou Coal Mining jumps 8.1 pct on H-shares purchase
HONG KONG, Sep 10 (Reuters)- Hong Kong shares rose again on Tuesday due to continued optimism that China's economy is doing better, although strong technical resistance capped gains for a second day.
China shares were tepid ahead of the release of more China data but financial stocks were strong on hopes that regulators will allow banks to issue preferred shares.
At midday, the Hang Seng Index was up 0.6 percent at 22,885.39, while the China Enterprises Index of the top Chinese listings in Hong Kong rose 1 percent.
The CSI300 was flat, while the Shanghai Composite Index was up 0.2 percent at 2,217.52 points, after Shanghai shares had their best day in nine months on Monday.
Globally, most stock markets have risen, boosted by encouraging Chinese August data released on Sunday and Monday.
"The Chinese data showed that the downside risk in China seemed to be removed and that's why we see China-related stocks have improvement in sentiment," said Castor Pang, analyst at Core Pacific-Yamaichi Securities in Hong Kong.
#2 Sep 13, 2013
hey there, truly interesting posts you make, just keep up the great work, will be back for more!
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