February 7, 2018 / 1:59 AM / 10 months ago

China, Hong Kong stocks rebound, inspired by Wall Street

SHANGHAI, Feb 7 (Reuters) - China and Hong Kong stocks rose sharply in early trading on Wednesday following Tuesday’s heavy sell-off, inspired by a rebound on Wall Street.

Sentiment in China also improved after major state media assembled a chorus of support for the stock market while companies announced stock purchases, share buybacks and suspensions of share disposal plans.

The Shanghai Composite Index, which on Tuesday registered its biggest single-day drop in two years, gained 1.0 percent to reach 3,405.46 points at 1:45 GMT.

The blue-chip CSI300 Index rose 1.1 percent to 4,194.52 points.

Hong Kong’s Hang Seng benchmark, which in the previous session had its worst day since August 2015, rebounded 2.4 percent to 31,339.22 points. (Reporting by Samuel Shen and John Ruwitch; Editing by Eric Meijer)

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