China, HK stocks rise after Chinese securities regulator vows further reforms

Chinese and Hong Kong stocks rose on Thursday, after China's securities watchdog vowed to deepen market reforms and improve the quality of listed companies. ** China's benchmark CSI300...

China, HK stocks rise after Chinese securities regulator vows further reforms

SHANGHAI, Dec 22 (Reuters) - Chinese and Hong Kong

stocks rose on Thursday, after China's securities watchdog vowed

to deepen market reforms and improve the quality of listed

companies. ** China's benchmark CSI300 index rose 0.6% to

3,854.34 at the end of the morning session, while the Shanghai

Composite Index gained 0.2% to 3,075.81. ** In Hong Kong, the Hang Seng index added 2.8% to

19,688.67 points. ** The China Securities Regulatory Commission (CSRC)

said in a statement late on Wednesday that the economy will

recover as strong stimulus policies take effect, boding well for

China's capital markets. ** China is now grappling with a surge in infections after

Beijing dropped its strict zero-COVID policy, but the CSRC said

it's fully confident toward the "bright future" of China's

economy. ** The CSRC will push for an expansion of the mainland-Hong

Kong Stock Connect scheme, implement offshore listing reforms,

and deepen cooperation with Hong Kong's capital markets. ** Earlier in the week, Chinese and Hong Kong securities

regulators said that they have agreed in principle to further

expand the scope of eligible stocks under the mainland-Hong Kong

Stock Connect. ** The Hang Seng Tech Index jumped as much as

5.2%, as investors were encouraged by CSRC's vows to support

private firms and technology platform companies. ** Alibaba Group Holding, Bilibili Inc

and Xpeng Inc all rose sharply. ** The CSRC said it will fast-track greenlighting of the

first offshore listing by a "platform" company under China's new

approval system. ** Property shares also rose, after the CSRC

reiterated its support to the struggling sector.

(Reporting by Shanghai Newsroom; Editing by Rashmi Aich)