1. China, Hong Kong shares rise as Brexit fears continues to ease

China, Hong Kong shares rise as Brexit fears continues to ease

China and Hong Kong stocks edged up on Tuesday morning, as investor sentiment in global equity markets continued to improve on growing expectations that British voters will opt to remain in the European Union..

By: | Shanghai | Published: June 21, 2016 10:47 AM
china stock, hong kong stock, brexit China’s blue-chip CSI300 index rose 0.4 percent, to 3,126.45 points by the lunch break, while the Shanghai Composite Index gained 0.3 percent, to 2,896.29 points. (Reuters)

China and Hong Kong stocks edged up on Tuesday morning, as investor sentiment in global equity markets continued to improve on growing expectations that British voters will opt to remain in the European Union in this week’s referendum.

China’s blue-chip CSI300 index rose 0.4 percent, to 3,126.45 points by the lunch break, while the Shanghai Composite Index gained 0.3 percent, to 2,896.29 points.

Also Read: China shares dip on economy, yuan jitters; Brexit fears hit Hong Kong

In Hong Kong, the Hang Seng index added 0.5 percent, while the Hong Kong China Enterprises Index gained 0.4 percent.

Global stock markets rallied after two opinion polls showed the “Remain” camp had recovered some ground, reversing a recent rise in support for pulling out. But a third poll found those wanting to leave were ahead by a whisker.

Investors, who have been worried about the prospects of further yuan depreciation, got some relief after China’s foreign exchange regulator said pressure on China’s cross-border capital outflows has gradually eased, citing May data.

Meanwhile, China’s state planner stepped up approval of highway projects in an apparent bid to aid a struggling economy.

Most shares rose in China and Hong Kong.

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