* HSI +0.9 pct, H-shares +1 pct, CSI300 +0.6 pct
* New IPOs surge daily limit in Shenzhen debut
* China oil giants up helped by rising prices
(Updates to midday)
By Grace Li
HONG KONG, June 26 China shares rose on Thursday
as the first initial public listings (IPOs) to debut on the
mainland in more than four months rose sharply, bolstering
Hong Kong markets also regained some momentum, with
investors hoping for a further delay in interest rate hikes in
the United States after a shockingly poor reading on the economy
for the first quarter.
By midday, the Hang Seng Index was up 0.9 percent at
23,079.27 points. The China Enterprises Index of the top
Chinese listings in Hong Kong added 1 percent.
The CSI300 of the leading Shanghai and Shenzhen
A-share listings climbed 0.6 percent, while the Shanghai
Composite Index was up 0.5 percent at 2,036.14 points.
"The uptrend (in China markets) will be limited. The big
picture of the economy in the first half of the year, future
policy direction and interim results of listed companies are all
important factors to look at," said Xiao Shijun, analyst at
Guodu Securities in Beijing.
In Shenzhen, all three companies - Feitian Technologies
, Wuxi Xuelang Environmental Technology,
and Shandong Longda Meat Foodstuff - surged the
maximum allowed 44 percent in their trading debuts, underscoring
pent-up demand that bodes well for a raft of new issues to come.
The Nasdaq-style ChiNext Composite Index of
mostly high tech startups listed in Shenzhen advanced 2 percent,
drawing money from investors who were defeated in the fierce
competition for new listings.
Leading gains in Hong Kong were Macau gaming stocks, which
extended a rebound after months of selling pressure triggered by
Wynn Macau, Sands China and Galaxy
Entertainment Group jumped 5.2, 4.2 and 3.8 percent,
China's two state oil giants were the biggest boosts for the
H-share index, riding on a rally of oil prices due to concerns
about escalating violence in Iraq. An upcoming reform plan led
by the two to attract more private funds into the gas and oil
sector also helped.
PetroChina was up 1.9 percent, while China
Petroleum & Chemical Corp was 1.8 percent higher.
China Resources Cement Holdings leapt 4.1 percent
after it said it expected a sharply higher profit for the first
six months of 2014, thanks to higher selling prices of cement
Luk Fook Holdings International gained 2.9 percent
to its highest since April 15 after posting solid results late
(Editing by Kim Coghill)