SHANGHAI, Jan 20 (Reuters) - China stocks rose on Thursday
after a set of key policy rates and lending benchmarks were cut
to prop up a slowing economy, with investors pinning hopes on
further easing in policies by Beijing.
The CSI300 index rose 1.1% to 4,833.21 at the end
of the morning session, while the Shanghai Composite Index
gained 0.3% to 3,568.35.
The Hang Seng index added 2.3% to 24,689.32. The
Hong Kong China Enterprises Index gained 2.9% to
** The one-year loan prime rate (LPR) was lowered by 10
basis points, and the five-year LPR was reduced by 5 basis
points the first reduction since April 2020.
** The CSI300 banks index rose 2.4%, while
consumer staples added 1.9%.
** Real estate developers gained 1% after
Reuters reported China is drafting nationwide rules to make it
easier for developers to access funds from sales still held in
escrow accounts, in its latest move to ease a severe cash crunch
in the sector.
** Chipmakers eased 0.3%, as China's industry
ministry projected tight supplies of semiconductors to continue
over a relatively long period of time.
** The Shanghai Stock Exchange (SSE) said it has asked
companies listed on the Nasdaq-style STAR Market to disclose
environmental, social and governance (ESG)-related information
in their annual reports.
** In Hong Kong, the Hang Seng Tech index rose
3.3%, with Tencent Holdings, Alibaba Group
and Meituan gaining between 4.4% and 6.9%.
** China's cyberspace regulator denied on Wednesday issuing
a document with new guidelines for the nation's big internet
companies that would require them to seek approval for new
investments and fundraising.
** Mainland developers listed in Hong Kong jumped
nearly 5%, with Shimao Group, Country Garden Holdings
, Sunac China Holdings up between 6% and 12%.
** The Hang Seng Finance Index rose 1.6%, with
insurer AIA Group up 4.8%. Consumer staples
(Reporting by Shanghai Newsroom; editing by Uttaresh.V)