New | Hong Kong, China stocks crawl to firm close in morning session
Hang Seng Index broke the losing streak and rebounded by 1 per cent
Hong Kong stocks finished with modest gains in the morning session on Thursday while Chinese shares eked out miniscule gains in what brokers say may be a short-lived rebound.
The Hang Seng Index added 221.63 points, or 0.99 per cent, to 22,719.63, while the H-share China Enterprise Index up 71.27 points, or 0.70 per cent as of noon. Agriculture and mining led the gains, with both up 1.12 per cent.
The A share market largely held steady after some swings into negative territory.
The Shanghai Composite Index added 9.14 points, or 0.25 per cent, to 3,657.07, while the Shenzhen Composite gained 8.23 points, or 0.35 per cent, to 2,351.85.
Large-cap tracker CSI 300 rose 3.98 points or 0.11 per cent, to 3,785.58, while the tech-heavy ChiNext dropped 13.60 points, or 0.47 per cent, at 2,883.96.
“This is only a short-term rebound after three days of losses and investors are just adding back some positions. There is not enough momentum to lend force to a sustained rally,” said Louis Tse Ming-kwong, director at VC Brokerage.
