Chinese bluechips, HK shares rise as China vows to deepen reforms

Chinese bluechip and Hong Kong stocks ended higher on Thursday, after China's securities watchdog vowed to deepen market reforms and improve the quality of listed companies.

Hong Kong's Hang Seng index climbed 2.71 percent, or 518.73 points, to 19,679.22.

China's bluechip CSI300 index rose 0.1% to close at 3,054.43, though the Shanghai Composite Index fell 0.5% to 3,054.43.

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.

(Reuters)